Google to invest $550 million in Alibaba rival JD.com
Google is investing $550 million in Chinese e-commerce firm JD.com, which competes with Jack Ma-led Alibaba in the Chinese market. In a joint announcement, the companies said they would collaborate with Google's Shopping platform for retail solutions in Europe, the US, and Southeast Asia. Valued at over $60 billion, JD.com includes Tiger Global Management and Capital Today as its investors.