Google and Jingdong will explore joint development of retail solutions to enable helpful, personalized and frictionless shopping experiences in several regions including Southeast Asia, the U.S., and Europe. JD.com is to join Google Shopping and offer a curated selection of high-quality products to consumers across multiple regions.
JD.com and Google announced today that Google will invest $550 million in cash in JD.com as part of a strategic partnership.
Google and JD plan to collaborate on a range of strategic initiatives, including joint development of retail solutions in a range of regions around the world, including Southeast Asia, the U.S., and Europe.
By applying JD’s supply chain and logistics expertise and Google’s technology strengths, the two companies aim to explore the creation of next-generation retail infrastructure solutions, with the goal of offering helpful, personalized and frictionless shopping experiences. JD also plans to make a selection of high-quality products available for sale through Google Shopping in multiple regions.
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.