Google will invest $550 million cash in JD.Com, a Chinese online retail platform, part of a partnership where the two companies will develop retail solutions in regions including Southeast Asia, the US and Europe.
The partnership will combine JD's supply chain and logistics expertise with Google's technology strengths, the two companies said in a statement Monday. JD also plans to sell products through Google Shopping in multiple regions. (See Google to Invest $550M in JD.com .)
JD.com is valued at about $60 billion and has partnerships including Walmart, with investments in automated warehouses, drones and other next-generation retail and logistics technologies, according to TechCrunch.
Google's relationship with China has been fraught. Its search service is blocked in China over its refusal to censor search results in compliance with local laws, Reuters noted.
On the other hand, Google announced in December it's opening an AI research lab in China.
- Google Preps Machine-Learning-as-a-Service for Networks
- Google Has Intent to Cut Humans Out of Network
- Google Launching G Suite 'Confidential Mode,' Including Self-Destructing Email
— Mitch Wagner Executive Editor, Light Reading