JD.com Inc. (JD.US; 9618.HK) received over 240 million orders in the first year after launching its takeout dining service, giving it more than 15% of the market, Caijing Tuya reported on Monday, citing an internal company letter issued on the service’s first anniversary. The company is aiming to double its market share to 30% by the end of this year, the report said.
JD.com has built up a network of 150,000 full-time drivers over the past year, and previously announced plans to invest 22 billion yuan ($3.2 billion) over the next five years to build affordable housing for them. As it heads into its second year, JD.com’s local delivery fleet will start to transition from a takeout dining focus to offer a wider range of catering services.
JD.com and Alibaba (BABA.US; 9988.HK) have shaken up China’s “instant commerce” sector over the last year by significantly building up their fleets of riders who typically deliver meals, groceries and other merchandise from local retailers to consumers and businesses. The pair and rival Meituan (3690.HK) have spent heavily to promote their instant commerce services, leading Meituan to announce last month that it expects to report a loss of up to 24.3 billion yuan for 2025.
JD.com’s stock is down 36% over the last 52 weeks, while Meituan’s is down 54%. But Alibaba’s Hong Kong-listed stock is up about 4% over that period.
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