JD.com jumps after Google makes a $550 million investment as part of a strategic partnership
- Google has announced a $550 million investment as part of a strategic partnership with JD.com.
- The partnership will combine JD's supply chain and logistics expertise and Google's technology strengths.
- JD.com shares are up more than 2.5%.
- Watch JD trade in real time here.
Chinese e-commerce giant JD.com is up more than 2.5% Monday morning after announcing Google will invest $550 million as part of a strategic partnership that will combine JD's supply chain and logistics expertise and Google's technology strengths.
"This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world," JD.com Chief Strategy Officer Jianwen Liao said in the press release.
"We are excited to partner with JD.com and 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," Google's Chief Business Officer Philipp Schindler said.
Google will receive 27.1 million newly issued JD.com Class A shares at a price of $20.29 per share, equivalent to $40.58 per ADS, the press release said.
JD is up 5.76% this year.