Walmart boosts e-commerce investment in U.S. and China

JD.com's warehouse in Shanghai

Walmart has increased its investment in Chinese e-commerce company JD.com and is growing its online fulfillment network in the United States.

The retailer plans to double the number of warehouses devoted to online fulfillment from five to 10 by the end of this year, faster than analysts had expected, according to CNBC.

"We have doubled our capacity in the last 12 months and that allows us to ship to a majority of the U.S. population in one day," said Justen Traweek, VP of e-commerce supply chain and fulfillment.

RELATED: Walmart expands online assortment

Walmart has increased the rate of digital initiatives this year, acquiring smaller startups as part of its @WalmartLabs program and buying online retailer Jet.com in a $3 billion acquisition that adds a new platform, customer base, revenue stream and talent in the form of Jet's founder Marc Lore. 

RELATED: A deeper look at Jet and Walmart shoppers 

And now Walmart has nearly doubled its stake in JD.com from 5.9 percent to 10.8 percent. Walmart sold its online operations in China to JD.com in June, and Walmart's stake in that company was part of the agreement.

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