uploads///google __

Google to Invest $550 Million in JD.com – JD.com Stock Up +5%


Jun. 18 2018, Published 9:03 a.m. ET

Alphabet Inc.’s (NASDAQ: GOOGL) Google subsidiary announced that it will be investing $550 million in Chinese e-commerce powerhouse JD.com (NYSE: JD) in exchange for 27,106,948 newly issued Class A shares at a price of $40.58 per ADS.

In the press release, the companies stated that they “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,” and that they “aim to explore the creation of next generation retail infrastructure solutions, with the goal of offering helpful, personalized and frictionless shopping experiences.” JD also stated that it “plans to make a selection of high-quality products available for sale through Google Shopping in multiple regions.”

JD.com’s stock has responded to the news by rising more than 5% in pre-market trading, while the stock of Google’s parent company, Alphabet, is down just over 0.5%.



Article continues below advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.