Google to invest 550 million USD in JD.com

Google has announced its purchasing 0.93 percent of the A-shares of China's e-commerce giant JD.com. The deal is worth 550 million U.S. dollars, reports thepaper.cn.

Logo of Chinese online retailer JD.com [File photo: IC]

A joint statement from the two companies say they plan to cooperate on a series of strategic projects including joint development of retail solutions in South Asia, the United States and Europe.

"By integrating JD.com's advantages in supply chains and logistics and technologies from Google, the two companies will build a next-generation retail infrastructure to offer consumers an invaluable, personalized and convenient shopping experience," said the two companies.

JD.com says it hopes to optimize its sales via Google Shopping.

"Cooperation with Google offers JD.com a broader space to provide high-quality shopping service to consumers worldwide. It is an important step to modernize global retail", said Liao Jianwen, chief strategy officer of JD.com.

Philipp Schindler with Google said the cooperation helps to build a global retail ecosystem which will enable consumers to shop anything in any way and in any time they want.