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Google to invest $550m in JD.com

RBR Staff Writer Published 19 June 2018

US tech giant Google has said that it will invest $550m in Chinese technology-driven e-commerce firm JD.com.

As part of a partnership, the companies aim to explore joint development of retail solutions to allow helpful, personalized and frictionless shopping experiences in various regions including Southeast Asia, the US and Europe.

The collaboration will bring together JD’s supply chain and logistics expertise and Google’s technology strengths.

Both the firms plan to explore the creation of next generation retail infrastructure solutions. JD also plans to make a selection of products available for sale via Google Shopping in several regions.

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

For its investment, Google will receive 27,106,948 newly issued JD.com Class A ordinary shares at an issue price of $20.29 per share. This is considered to be less than 1% stake in JD.com.

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, personalized and frictionless shopping experiences that give consumers the power to shop wherever and however they want.”

Google is increasing its investments across Asia. The company recently acquired a stake in Indonesia-based ride-hailing firm Go-Jek.

Image: JD.com’s new headquarters in Beijing. Photo: Courtesy of JD.com.