Google to invest US$550M in JD.com to boost global ‘retail ecosystem’ | Digital Asia
Digital Asia News Update
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.
Image Credit: gilc / 123RF Stock Photo
Find out more about the regional startup scene at our Echelon Asia Summit 2018 conference, which runs from 28 to 29 June. Click here to get your tickets. Enter the promo code Tech News-COMMUNITY to get a special 20 per cent off discount or solve our riddle here to get a free ticket!
The post Google to invest US$550M in JD.com to boost global ‘retail ecosystem’ appeared first on Tech News.