American internet giant Google and China’s leading e-commerce company JD.com on Monday (June 18) announced their strategic partnership.
Here are the top 10 developments:
1. Google will invest $550 million in cash in JD.com as part of the strategic partnership.
2. 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.
3. 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.
4. JD also plans to make a selection of high-quality products available for sale through Google Shopping in multiple regions.
5. JD.com’s Chief Strategy Officer Jianwen Liao said in an official statement: “This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world.”
6. Google Chief Business Officer Philipp Schindler said the partnership will explore new solutions for retail ecosystems around the world to enable helpful, personalized and frictionless shopping experiences that give consumers the power to shop wherever and however they want.
7. 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.
8. JD.com is the largest retailer in China, a member of the NASDAQ100 and a Fortune Global 500 company.
9. Through products and platforms like Search, Maps, Gmail, Android, Google Play, Chrome and YouTube, Google has become one of the most widely-known companies in the world.
10. Google is a subsidiary of American multinational conglomerate Alphabet Inc.
Sreya is based in Kolkata. She is a Senior Editor of Big Wire.