19 June 2018, India:
Google, announced that it will invest $550 million in cash in Chinese e-commerce giant JD.com as part of a strategic partnership.
Jianwen Liao, Chief Strategy Officer, JD.com said, “This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world.”
Jianwen Liao added, “This marks an important step in the process of modernizing global retail. As we celebrate our June 18 anniversary sale, this partnership opens a new chapter in our history.”
Philipp Schindler, Chief Business Officer at Google said, “We are excited to partner with JD.com and explore new solutions for retail ecosystems around the world to enable helpful, personalized and frictionless shopping experiences that give consumers the power to shop wherever and however they want.”
Under the agreements, Google will receive 27,106,948 newly issued JD.com Class A ordinary shares at an issue price of $20.29 per share, equivalent to $40.58 per ADS, based on the volume-weighted average trading price over the prior 10 trading days.
As part of partnership, JD.com will also join Google Shopping and bring a selection of their high-quality products to consumers in multiple regions around the world.
(Image – Glassdoor)