Google will invest $550 million in Chinese e-commerce powerhouse JD.com (JD.O), part of the U.S. internet giant’s efforts to expand its presence in fast-growing Asian markets and battle rivals including Amazon.com (AMZN.O). The two companies described the investment as one piece of a broader partnership that will include the promotion of JD.com products on Google’s shopping service. JD.com’s investors include Chinese social media powerhouse Tencent Holdings Ltd , the arch-rival of Chinese e-commerce leader Alibaba Group Holding Ltd (BABA.N), and Walmart Inc (WMT.N). …read more
Source:: Yahoo Finance
