Google to invest $550 million in Alibaba rival JD.com

June 18, 2018 - 3:51 am

SEOUL, South Korea (AP) — Google says it will invest $550 million in Alibaba's main rival JD.com as the U.S. tech giant seeks to expand in fast-growing Asian e-commerce markets.

Under the partnership announced Monday, JD.com products will appear on Google's shopping service while Google can apply the Chinese e-commerce company's supply chain and logistics expertise to its technology.

Google said through the partnership, the company will explore new solutions to improve shopping experiences of consumers around the world.

It was not clear if the partnership was the American company's latest attempt to make a foray into China, where its major services including email and search are blocked.

JD.com is China's second-largest e-commerce company after Alibaba. It counts Tencent Holdings, the developer of WeChat messenger app and a key rival of Alibaba, as its investors.

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