Google to Invest $550 Mln in Chinese E-Commerce Company JD.com

Alphabet’s (GOOG) Google announced pre-market Monday that it will invest $550 million in cash in Chinese e-commerce giant JD.com (JD) as part of a strategic partnership.

The technology company said that it is collaborating with JD.com to develop next generation retail infrastructure solutions, with the aim of creating personalized and seamless shopping experiences.

In return for the investment, Google will receive 27,106,948 newly issued JD.com Class A ordinary shares at an issue price of $20.29 per share. That is equivalent to $40.58 per American depositary share based on the volume-weighted average trading price over the prior 10 trading days.