Google invests in JD Sports for Expansion into the Asian Market
Post by Anupam Pandey | Feb 21, 2019
Google has recently made a strategic plan to invest $550 million on the Sports and Fitness Brand JD which is headquartered at UK based company. The head of the South East Asia operations of Google confirmed the signing of an agreement which would give it an over 27 million class A shares of the online retail shop. JD has been continuously trying to break its way into South East Asia as it shows an immense scope of growth with an outrageously large number of customers. As a result of this agreement, JD saw an incline of 0.4% in its share prices within a matter of a few hours.
Google has been trying to explore space in the Asia E-commerce sector as its hope of expansion in China was put on hold by the Chinese Administration due to certain clauses which Google was being compelled to agree upon about the usage of search engine and its search results. The recent investment can also be seen in relation to Google's new Shopping venture which is speculated to be in the developmental process at the moment.
Google has also expressed the joy of signing of this collaborative effort with JD and its excitement about the future prospects of this larger plan that Google might have scheduled for grabbing a healthy piece of the retail sector in the most densely populated regions of the world. Both the companies are looking forward to a more progressive future by sharing their expertise and developing more refined plans for their mutual market growth in the region.
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