Google Pours $500 Investment into Chinese e-Commerce Giant
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Google is set to invest $500 million into JD.com, one of China’s biggest ecommerce companies, in its continuing effort to gain ground against its rivals in Asia’s fast growing markets.
The two companies revealed that the partnership will include the advertisement of JD.com products on Google’s shopping service, helping it gain exposure in US and European markets.
However, JD.com says that Google will not be pushing any new initiatives in China where its main services are still blocked due to the search giant’s refusal to comply with local censorship laws.
In addition to Google, JD.com currently lists Tencent Holdings Ltd. and Walmart Inc. as investors.
Source: Reuters