Google Site Search

Menu
  • Home
  • Zoomd
  • Google Site Search
  • Site Search 360
  • Swiftype
  • Contact Us

Home
Zoomd
Google to invest $550 million in Chinese e-commerce giant J…
Zoomd

Google to invest $550 million in Chinese e-commerce giant J…

admin June 18, 2018


SINGAPORE (Reuters) – Google will invest $550 million in Chinese e-commerce powerhouse JD.com, part of the U.S. internet giant’s efforts to expand its presence in fast-growing Asian markets and battle rivals including Amazon.com.

FILE PHOTO: A logo of JD.com is seen on a helmet of a delivery man in Beijing, China June 16, 2014. Picture taken June 16, 2014. REUTERS/Jason Lee/File Photo

The two companies described the investment as one piece of a broader partnership that will include the promotion of JD.com products on Google’s shopping service. This could help JD.com expand beyond its base in China and Southeast Asia and establish a meaningful presence in U.S. and European markets.

Company officials said the agreement initially would not involve any major new Google initiatives in China, where the company’s main services are blocked over its refusal to censor search results in line with local laws.

JD.com’s investors include Chinese social media powerhouse Tencent Holdings Ltd, the arch-rival of Chinese e-commerce leader Alibaba Group Holding Ltd, and Walmart Inc.

Google is stepping up its investments across Asia, where a rapidly growing middle class and a lack of infrastructure in retail, finance and other areas have made it a battleground for U.S. and Chinese internet giants. Google recently took a stake in Indonesian ride-hailing firm Go-Jek, and sources have told Reuters that it may also invest in Indian e-commerce upstart Flipkart.

Google declined to comment on the rumored Flipkart deal. The JD.com investment is being made by the operating unit of Google rather than one of parent company Alphabet’s investment vehicles.

FILE PHOTO: The logo of Google is pictured during the Viva Tech start-up and technology summit in Paris, France, May 25, 2018. REUTERS/Charles Platiau

Google will get 27.1 million newly issued JD.com Class A ordinary shares as part of the deal. This will give them less than a 1 percent stake in JD, a spokesman for JD said.

For JD.com, the Google deal shows its determination to build a set of global alliances as it seeks to counter Alibaba, which has been more focused on forging domestic retail tie-ups. Japan’s SoftBank Group Corp, which is making big internet investments around the globe, is a major investor in Alibaba.

“This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world,” said Jianwen Liao, JD.com’s chief strategy officer, in a statement.

Company officials said the deal would marry Google’s market reach and strength in analytics with JD.com’s expertise in logistics and inventory management.

(This version of the story has been corrected to remove erroneous reference to JD.com’s partnership with Carrefour in paragraph 4. A typo in paragraph 6 has also been corrected.)

Reporting by Jonathan Weber; Editing by Stephen Coates

Swiftype Trends

Related Posts:

  • Form 10-K COMMVAULT SYSTEMS INC For: Mar 31Form 10-K COMMVAULT SYSTEMS INC For: Mar 31
  • NWI Business Ins and Outs: Griffith lands new seafood resta…NWI Business Ins and Outs: Griffith lands new…
  • NWI Business Ins and Outs: Romano’s and Tequila Restaurante…NWI Business Ins and Outs: Romano’s and…
  • Best Photo Management Software 2018Best Photo Management Software 2018
Share
Tweet
Email
Prev Article
Next Article

Related Articles

SuiteCRM has announced the release of SuiteCRM 7.11 beta release. …

SuiteCRM gets Google Calendar integration –

You’re reading NPR’s weekly roundup of education news. Curriculum changes …

More Colleges Go Test-Optional; Google Launches College Sea…

About The Author

admin

Leave a Reply

Cancel reply

  • Popular
  • Recent

Google Site Search

Google Site Search Alternatives

Tags

AddSearchAlgoliaAmazon CloudSearchApache Lucene SolrBen Givon Affiliate NetworkCludoDavid Cartu MarketingExpertrec Search EngineFree Google Site Search AlternativeGoogle ElasticSearchGoogle Site SearchJonathan Siennicki Social NetworksSite Search 360SwiftypeZoomd

Archives

  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018

Categories

  • AddSearch
  • Algolia
  • Cludo
  • Google Site Search
  • Site Search 360
  • Swiftype
  • Zoomd
  • Back to the Stratosphere: How the Rarest Music in the World…
Copyright © 2019 Google Site Search

Ad Blocker Detected

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker.

Refresh