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Walmart Acquires Full Yihaodian Ownership

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Walmart Stores, Inc. announced it acquired the shares in Yihaodian, taking full ownership of its e-commerce business in China. With this ownership, Walmart plans to invest in both accelerating e-commerce and creating a seamless experience for customers across online, mobile and stores.

"Yihaodianhas excelled as one of China's top e-commerce businesses. We're excited about the team at Yihaodian and their strong local e-commerce experience," stated Neil Ashe, president and CEO of Walmart Global eCommerce.