Google Plans To Invest $500m In China E-Commerce Giant, JD.
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. The shares are equivalent to a nearly one percent stake in the company, according to a JD.com spokesman.
Google chief business officer Philipp Schindler said the move will give customers the power to shop wherever and however they want.
However, the partnership is unlikely to affect Google’s status in mainland China, where Gmail, Google Search, and Google Maps are all blocked in China. This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world, JD.com’s chief strategy officer Jianwen Liao said.