Google invests $550 million in Chinese e-commerce player

7/24/2018 8:23:28 AM

Google will invest $550 million in, China’s second-largest e-commerce company. The investment is part of a strategic partnership, where they will work together to develop better retail infrastructure in multiple markets. Both enterprises have international expansion ambitions. said it planned to make a selection of items available for sale in places like the U.S. and Europe through Google Shopping — a service that lets users search for products on e-commerce websites and compare prices between different sellers.

Caixin Global reports that, under this deal, the two companies will explore the creation of “next-generation retail infrastructure solutions,” by applying’s supply chain and logistics expertise and Google’s technology strengths. competes aggressively with Alibaba in China's massive e-commerce market. The partnership may open up the way for to sell to consumers outside China. For Google, the deal with helps it compete against Amazon and to stay relevant in e-commerce.

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