Google to invest $550 million in JD.com
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, the arch-rival of Chinese e-commerce leader Alibaba Group Holding, and Walmart. ■