Google makes $550M strategic investment in Chinese e-commerce firm JD.com

Google makes $550M strategic investment in Chinese e-commerce firm JD.com

Google makes $550M strategic investment in Chinese e-commerce firm JD.com

A logo of JD.com is seen on a helmet of a delivery man in Beijing, China June 16, 2014.

Google will invest $550 million in JD.com, an ecommerce giant in the Chinese market.

Meanwhile, JD.com will bring high-quality products to other parts of the world through Google Shopping. This includes US and European markets, with products from the Chinese retailer appearing in relevant Google Search results.

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 USA and Chinese internet giants.

The JD.com investment is being made by the operating unit of Google rather than one of parent company Alphabet's investment vehicles.

The firms will marry JD's supply chain and logistics experience with Google technology to create "next generation" personalized retail in regions including Southeast Asia, the U.S. and Europe, the joint statement said.

Google will put $550 million in cash into JD.com and in return, the California-based company will receive 27.1 million newly issued JD.com Class A ordinary shares.

We want to accelerate how retail ecosystems deliver consumer experiences that are helpful, personalized and offer high quality service in a range of countries around the world, including in Southeast Asia.

Under the partnership, JD.com products will appear on Google's shopping service, giving JD.com access to consumers outside Asia, while Google can apply the Chinese e-commerce company's supply chain and logistics expertise to its technology.

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