Google to invest $550 million in JD.com

By applying JD’s supply chain and logistics expertise and Google’s technology strengths, the two companies aim to explore the creation of next generation retail infrastructure solutions. JD also plans to make a selection of high-quality products available for sale through Google Shopping in multiple regions, the companies said in a joint press release.

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

"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,” said Google chief business officer Philipp Schindler.

Under the agreements, Google will receive 27,106,948 newly issued JD.com Class A ordinary shares at an issue price of $20.29 per share, equivalent to $40.58 per ADS, based on the volume-weighted average trading price over the prior 10 trading days. (RKS)

Fibre2Fashion News Desk – India