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Yahoo Finance Plus JD.com Inc Shares Pop on $550 Million Google Investment
JD.Com Inc (ADR) (NASDAQ:JD) stock was up on Monday following news of an investment from Alphabet Inc’s (NASDAQ:GOOG,GOOGL) Google.
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The deal has Google investing a total of $550 million into JD.com Inc. This will have the tech company acquiring 27,106,948 newly issued shares of JD stock. Google is paying $20.29 per share for the stock. The price is the stock’s average trading price over the last 10 days.
The investment from Google will have the two companies working together on a new project to develop new retail solutions around the world. Some of the places that the company’s are seeking to test out new retail solutions include Southeast Asia, the U.S. and Europe.
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This effort will have the two companies combining their own expertise to create the new retail solutions. JD.Com Inc is bringing its supply chain and logistics expertise and Google will be relying off of its technology strengths. The two claim that this will allow them to create “next generation retail infrastructure solutions.”
“This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world,” JD.com Inc Chief Strategy Officer Jianwen Liao said in a statement. “This marks an important step in the process of modernizing global retail.”
JD.Com Inc also notes that the new agreement between the two companies will have it listing several products through Google Shopping. These products will be available in various regions around the world.
JD stock was up 1% and GOOG stock was up slightly as of Monday morning.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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