Walmart to Acquire Cornershop in Mexico and Chile, Further Investing in Last-Mile Delivery and Strengthening Omnichannel Strategy

BENTONVILLE, Ark.–(BUSINESS WIRE)–Walmart Inc. (NYSE: WMT) today announced the acquisition of Cornershop,
Inc., a leading online marketplace for on-demand delivery from
supermarkets, pharmacies and specialty food retailers in Mexico and
Chile. This transaction is an important step forward in accelerating the
company’s omnichannel capabilities and growth in Latin America. It
follows Walmart’s recent investment in Dada-JD Daojia in China and the
strategic alliance with Rakuten in Japan.

“We are focused on making life easier for customers and associates by
building strong local businesses, powered by Walmart,” said Judith
McKenna, president and CEO of Walmart International. “Cornershop’s
digital expertise, technology and capabilities will strengthen our
successful businesses in Mexico and Chile and provide learning for other
markets in which we operate. This is an opportunity to leverage both of
our brands, as well as Walmart’s strong supply chain and store network.
Combining Cornershop’s innovative, crowdsourced delivery platform with
Walmart’s unique assets will allow us to accelerate growth for both
companies, delighting our customers by saving them both time and money.
We are excited to welcome Cornershop to the Walmart family.”

Walmart has entered into a definitive agreement to acquire Cornershop,
Inc. for $225 million. Cornershop is a leading online marketplace for
crowdsourced, on-demand delivery in Mexico and Chile and is rapidly
building scale, with the number of unique users doubling in the past 12
months. Cornershop’s three founders, Oskar Hjertonsson, CEO; Daniel
Undurraga, chief operating officer; and Juan Pablo Cuevas, chief
technology officer, and their teams, will continue to lead the business.

Cornershop will remain an open platform that will continue to deliver
from a variety of retailers, extending the convenience and availability
of food, health & wellness and packaged goods for customers in Mexico
and Chile. Closing of the transaction is subject to regulatory approval
and is expected by the end of the year. For more information on this
acquisition, please visit the Walmart de México website
and the Walmart Chile website.

Information about other recent investments can be found in the Dada-JD
Daojia press release and the Rakuten
press release.

About Walmart

Walmart Inc. (NYSE: WMT) helps people around the world save money and
live better – anytime and anywhere – in retail stores, online, and
through their mobile devices. Each week, nearly 265 million customers
and members visit our more than 11,200 stores under 55 banners in 27
countries and eCommerce websites. With fiscal year 2018 revenue of
$500.3 billion, Walmart employs over 2.2 million associates worldwide.
Walmart continues to be a leader in sustainability, corporate
philanthropy and employment opportunity. Additional information about
Walmart can be found by visiting http://corporate.walmart.com,
on Facebook at http://facebook.com/walmart
and on Twitter at http://twitter.com/walmart.

Contacts

Walmart Inc.
Media Relations:
Pedro Mucciolo, 1-800-331-0085
U.S.:
news.walmart.com/reporter
or
Investor
Relations:
+1 (479) 277-8782