What happened: JD.com founder Richard Liu announced that the e-commerce platform will work with search giant Google and Walmart to expand its domestic business in China and capture international markets, including the US and Southeast Asia. Just a few months ago (June 2018), Google bought a $550 million stake in JD. Walmart also co-led a $500 million fundraising in August for JD’s grocery delivery unit Dada-JD Daojia.
Why it’s important: The new push is not surprising considering Google’s close relationship with JD’s biggest shareholder Tencent. According to Liu, JD plans to leverage US social media networks to gain access to foreign consumers. The partnership with Walmart will be global, while the firm plans to work with Google outside of China. JD has been making strides abroad for some time, with its most recent moves in Europe.