Google announced on Monday that it will invest US$550 million in Alibaba's main rival JD.com as the U.S. tech giant seeks to expand into fast-growing Asian e-commerce markets.
Under the partnership, JD.com products will appear on Google's shopping service, giving JD.com access to consumers outside Asia, while Google can apply the Chinese e-commerce company's supply chain and logistics expertise to its technology.
Google said that through the partnership, the company will explore new solutions to improve shopping experiences of consumers around the world.
Google will receive 27.1 million newly issued JD.com Class A ordinary shares as part of the deal.
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