Google to Invest $550M in Alibaba Rival JD.com

Mae Love
June 19, 2018

The deal will also see JD.com products appear on Google Shopping in the USA and Europe.

Google will invest more than half a billion dollars in China's second-largest e-commerce company JD.com as part of a move to expand retail services around the world, the companies said Monday. The companies hope to explore retail opportunities together in Southeast Asia, the USA and Europe and certain products will be made available on Google Shopping, according to an announcement released on JD's summer mega sale day, "618" or June 18, the anniversary of the company's founding in 1998.

JD.com's USA -listed shares rose 0.4 percent to close at $43.76 on Nasdaq.

The deal also provides Google with a stronger foothold in the China market and builds on the search giant's existing relationship with Tencent.

In the past year, Google has partnered with Walmart on multiple fronts.

Euro, stocks recover as German coalition breakup report denied
He also wants to block migrants whose asylum applications in Germany have been rejected from returning to the country. An ARD poll on Thursday found that 62 percent of Germans believe refugees without papers should not be allowed in.

How to Challenge Trump's Family Separation, Anti-Immigration Policies
A child at the immigrant detention facility for minors in Brownsville, Texas , known as Casa Padre. Collins said "we need to fix our immigration law" but that "using children is not the answer".

Federer beats Kyrgios to regain number one spot
Canadian Milos Raonic was looking at the bigger picutre after a loss to Roger Federer Sunday morning in the Stutttgart Open final. The 27-year-old now holds the No. 35 position in the world rankings.

"The announcement isn't focused on China", JD.com spokesman Josh Gartner confirmed to AFP.

Google will receive 27.1 million newly issued JD.com Class A shares at a price of $20.29 per share, equivalent to $40.58 per ADS, the press release said.

Sorting robots at JD.com's new fully automated warehouse in Shanghai, China. Japan's SoftBank Group Corp, which is making big internet investments around the globe, is a major investor in Alibaba.

Google's analytics and market research information will be paired with JD.com's experience in managing inventory of physical goods and handling logistics.

The investment may give Google access to more consumer data, which can be used to boost usage of Google Shopping, said Morningstar analyst Ali Mogharabi.

Other reports by

Discuss This Article

FOLLOW OUR NEWSPAPER