- Jul 15, 2020
- Business Update
JD MRO Valued at More than US$2 Billion
by Yuchuan Wang
By the end of the first half of 2020, JD Business, JD.com’s enterprise procurement business, has served over 8 million enterprise clients, covering 91% of global Fortune 500 companies. According to the China Enterprise Digital Procurement Development Report 2019, JD Business ranks first among procurement platforms with a market share of 52.3%.
In the meantime, JD MRO, the subsidiary procurement platform for maintenance, repair and operations products, raised US$230 million in Series A round of financing and became the most valued MRO platform with the highest post-money valuation of more than US$2 billion.
So far, JD Business has supplied anti-epidemic materials to 1.3 million clients including those from the medical and railway industries. It also developed a lite SaaS (software-as-a-service) digital procurement platform, available to enterprises nationwide for free.
In addition, JD Business also helps its upstream suppliers to explore the domestic enterprise procurement market. It has helped over 100 brands, including Apple, Lenovo and Midea, sell RMB 100 million yuan of products in the first half of 2020.
“As the largest intelligent enterprise procurement platform in China, JD Business will continue to apply technology innovations throughout the industry. We will provide more valuable services to our clients and lead healthy development of the market,” said Chunzheng Song, President of JD Business.