Tech giant Google will invest more half a billion dollars in Chain’s second-largest e-commerce company JD.com. Google Bets $550M On Chinese E-commerce giant JD.com.
This will push the Google Shopping, which poses a challenge to Amazon. Google will use the supply chain and logistics experience of JD and use it in Southeast Asia, the US and Europe.
“This partnership with Google opens up a broad range of possibility to offer a superior retail experience to consumers throughout the world,” JD.com’s chief strategy officer Jianwen Liao said.
Google will put $550 million in cash into JD.com. Google will receive 27.1 million newly issued JD.com shares. The shares are nearly 1% stake in the company.
The partnership will affect Google’s status in China because Gmail, Google Search and Google Maps are blocked.
Google Bets $550M On Chinese E-commerce giant JD.com. The tech giant is not focusing on China, a spokesperson said. JD.com competes aggressively with Alibaba.