[Editor Charlie sez: Isn’t this what Google is being fined billions for in Europe? Why does Google need to invest $550 million in the parent company of Ten Cent, the Spotify investor that bailed Spotify out of its idiotic convertible debt?]
SINGAPORE (Reuters) – Google will invest $550 million in Chinese e-commerce powerhouse JD.com, part of the U.S. internet giant’s efforts to expand its presence in fast-growing Asian markets and battle rivals including Amazon.com.
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. This could help JD.com expand beyond its base in China and Southeast Asia and establish a meaningful presence in U.S. and European markets.