Google to invest US$550M in JD.com to boost global ‘retail ecosystem’
The partnership will see Google combine its tech strengths with JD’s supply and chain logistics expertise
Google is set to invest US$550 million in Chinese e-commerce giant JD.com to accelerate its vision of a global ‘retail ecosystem’.
If the deal goes through, Google will receive 27,106,948 newly issued JD.com Class A ordinary shares at an issue price of US$20.29 per share.
The strategic partnership will see the two tech giants work on a number of retail solutions that will involve combining JD’s supply chain and logistics expertise and Google’s technology strengths. JD will also leverage on Google Shopping, a product search service, to offer some of its high-end products in multiple regions.
The end goal is to offer “helpful, personalized and frictionless shopping experiences” that will span US, Southeast Asia and Europe.
“This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world,” said JD.com’s Chief Strategy Officer Jianwen Liao, in an official press release.
With Southeast Asian consumers expected to spend US$88.1 billion in e-commerce products by 2025, Google sees JD as a key partner in extending its reach to this market.
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Image Credit: gilc / 123RF Stock Photo
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