Google to Invest $500 Million in Chinese E-commerce Giant
The biggest multinational tech company Google announced on Monday that it will invest an amount of $500 million in Chinese second largest e-commerce platform called JD.com. Both the companies have mentioned this funding as an association that will help in the promotion of JD.com products on Google’s shopping service.
In return for the funds, Google will receive more than 27 million newly issued Class A ordinary shares of JD.com at an issue price of $20.29 per share. This would also be helpful for the Chinese company to expand its existence beyond China and Southeast Asia to other markets in the US and Europe.
"This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world," stated Jianwen Liao, JD.com's chief...