 Source: REUTERS/Jason Lee Google has decided to invest $550 million in JD.com, a Chinese e-commerce giant as the company seeks to strengthen its presence in Asian markets and stay competitive with Amazon. The investment has been described as a piece of a larger partnership between the two companies that will include a range of strategic initiatives such as the promotion of JD.com products on Google Shopping. For JD.com, the deal demonstrates its intent to build up its growth outside of China as it continues its battle at home against Chinese e-commerce leader Alibaba. The goal for the two is to ultimately merge Google's expertise in data analytics, marketing, and customer reach with JD.com's logistics capabilities to create new kinds of online retail in the U.S, Europe, and Southeast Asia.
Although Google's main service offering is currently censored in China due to their refusal to censor certain search result in accordance with local laws, Google continues to invest in the market. They have opened up offices, including an AI hub, and continue to release products in the Chinese market. JD.com is currently valued at around $60 billion, and is backed by major Chinese internet player Tencent who is valued at around $500 billion. Click here to read the full article.
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