JD-backed delivery firm Dada reduces net losses by 35.9%

Dada, a delivery firm backed by e-commerce large JD, noticed its net revenues develop 31.9% to RMB 2.68 billion ($380 million) within the fourth quarter of 2022. Its net loss through the quarter was RMB 370.6 million, a discount of 35.9% in comparison with the identical interval final 12 months. Revenues generated from JD-Daojia, an on-demand delivery unit, and Dada Now, a crowdsourced delivery platform, elevated by 36.9% and 22.9% respectively. JD-Daojia contributed two-thirds of the Nasdaq-listed firm’s complete income in 2022, a rise of 8% in comparison with 2021 and an uptick attributed to extra energetic customers and a rise within the common order measurement. Meanwhile, Dada Now recorded a 40% year-on-year enhance in delivery staff, with 1 million energetic riders in 2022. [Dada]