1. News
June 18, 2018

Google to invest $550m in Chinese e-commerce company JD.com

Global technology major Google is set to invest $550m in Chinese e-commerce company JD.com through a strategic partnership.

Global technology major Google is set to invest $550m in Chinese e-commerce company JD.com through a strategic partnership.

The partnership will see Google and JD work collaboratively on a range of strategic initiatives, including joint development of retail solutions across Southeast Asia, the US, and Europe.

Both companies will combine their expertise to create next-generation retail infrastructure solutions that assist in offering personalised shopping experiences.

JD.com chief strategy officer Jianwen Liao said: “This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world.

“This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world.”

“This marks an important step in the process of modernising global retail. As we celebrate our 18 June anniversary sale, this partnership opens a new chapter in our history.”

JD will also offer a range of products to customers through Google Shopping in various locations.

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The agreements will also allow Google to receive 27,106,948 newly issued JD.com Class A ordinary shares at $20.29 per share based on the volume-weighted average trading price over the prior ten trading days.

Google chief business officer Philipp Schindler said: “We are excited to partner with JD.com and explore new solutions for retail ecosystems around the world to enable helpful, personalised and frictionless shopping experiences that give consumers the power to shop wherever and however they want.”