Google invests USD 550 million in Chinese ecommerce company

Monday 18 June 2018 14:04 CET | News

Google has signed a strategic partnership with ecommerce company, one of the largest in China and main competitor of Alibaba. 

Under the partnership, Google has agreed to purchase USD 550 million worth of shares in the Chinese company.  

In a joint release, the companies said they would “collaborate on a range of strategic initiatives, including joint development of retail solutions” in Europe, the U.S. and Southeast Asia.

The companies plan to leverage’s expertise and technology in supply chain and logistics with Google’s customer reach, data and marketing to promote an enhanced online retail experience. 

Initially, that will see the duo team up to offer products for sale on the Google Shopping platform across the word, but it seems clear that the companies have other collaborations in mind for the future.

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Keywords: Google, Alibaba, Chinese ecommerce,, online commerce, online retail China
Countries: World