TechTaffy

tech:

taffy

Walmart Increases Investment In Chinese Website

By TechTaffy Desk

[Techtaffy Newsdesk]

Wal-Mart has reached an agreement to increase its investment in the holding company of Yihaodian, an e-commerce website in China, to bring Walmart’s total ownership stake to approximately 51 percent.  Closing of the transaction is subject to Chinese government regulatory approval.

Neil Ashe (President and CEO, Walmart Global e-commerce): This investment further enables Walmart to deliver a superb customer experience to Chinese consumers that are already connected to the world through smart phones and social media.

Our further investment in Yihaodian demonstrates that we are committed to investing in China in a key growth industry and developing all that goes with it:  logistics, infrastructure, innovative talent and new technologies that will help China meet its development goals.

Launched in July 2008, Yihaodian offers more than 180,000 SKUs and has achieved a significant position in online grocery sales, as well as in categories such as baby/mom, consumer electronics and apparel.  With 5,400 employees and an existing logistics network based in Shanghai, Beijing, Guangzhou, Wuhan and Chengdu, and offers same-day and next-day delivery of essential daily items.

Just in

Around the web

ChatGPT search tool vulnerable to manipulation and deception, tests show — The Guardian

OpenAI’s ChatGPT search tool may be open to manipulation using hidden content, and can return malicious code from websites it searches, a Guardian investigation has found; writes Nick Evershed. 
Public Sector

SAIC secures $170.9M cybersecurity contract with Texas Department of Information Resources

Science Applications International Corp. (SAIC) has been awarded a $170.9 million contract by the Texas Department of Information Resources (DIR) to provide cybersecurity services.
Series A

Infinant raises $15M

Charlotte, NC-based Infinant, a bank platform provider, has raised $15 million in a Series A funding round.
AI

Lockheed Martin partners with IBM to enhance AI tools for defense applications

Lockheed Martin is integrating IBM’s Granite large language models (LLMs) into its AI Factory.
IT

Zettabyte, Foxconn ink data center partnership

Zettabyte, a company specializing in AI data center software and infrastructure, has entered into a partnership with Hon Hai Technology Group (Foxconn).