Thursday, 21 June 2018

Port Technology: Google Spends $500 Million on Next-Gen Retail with JD.com

Port Technology
Google Spends $500 Million on Next-Gen Retail with JD.com

 20 Jun 2018 03.02pm
Google has agreed to combine its technology strengths with the supply chain and logistics expertise of JD.com and invest US$ 550 million in cash into the Chinese e-commerce giant.

As part of a strategic partnership to collaborate on next-generation retail solutions in a range of regions around the world, including Southeast Asia, the US and Europe, Google and JD.com will explore how to offer helpful, personalized and frictionless shopping experiences.

JD.com also plans to make a selection of high-quality products available for sale through Google Shopping in multiple regions.
Read a Port Technology technical paper about how e-commerce demands are driving a new era of port technology, authored by Tommy Barnes, President, project44

Jianwen Liao, Chief Strategy Officer at JD.com, said: “This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world.

“This marks an important step in the process of modernizing global retail. As we celebrate our June 18 anniversary sale, this partnership opens a new chapter in our history.”

Philipp Schindler, Google Chief Business Officer "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.”

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.
Read more:

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