Economy, Sci & Tech

Google to Invest $550m in China’s JD

Google to Invest $550m  in China’s JDGoogle to Invest $550m  in China’s JD

Google is investing $550 million in cash in China’s Inc. as the US search giant pushes deeper into online commerce. Alphabet Inc.’s Google will buy newly issued Class A shares at $20.29 per share, equivalent to $40.58 per ADS (American depositary share), the companies said in a joint statement on Monday, Bloomberg reported. The pair plan to explore joint development of retail solutions in regions, including Southeast Asia, the US and Europe. The deal comes just a week after Google struck an alliance with Carrefour SA to sell groceries online in France through the US company’s platforms including Home and Assistant. The flurry of activity signals Google’s growing ambitions in e-commerce. The French partnership will allow consumers to order staples through Google services on their smartphones, tablets or other devices. The latest deal is aimed at combining JD’s expertise in logistics and supply chain with Google’s technology to experiment with changes in how people shop.


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