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Google to invest $550 million in Chinese e-commerce player
Updated On: 18 June, 2018 07:25 PM IST | Beijing | IANS
Both the companies aim to work in partnership to develop retail infrastructure that can better personalise the shopping experience and reduce friction in a number of markets, including Southeast Asia
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In an apparent move to rebuild its presence in the country, tech giant Google is set to invest $550 million in cash into Chinese e-commerce player JD.com.
"As part of a strategic partnership, Google will put $550 million in cash into JD.com. In return, the tech giant will receive more than 27 million newly issued JD.com Class A ordinary shares at an issue price of $20.29 per share," CNBC reported citing Google as saying on Monday.
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