Alibaba’s closest competitor, JD.com is enjoying a serious growth streak. Google recently invested $500 million in JD and according to analysts, it’s share in the massive Chinese market has grown from 22% a year ago, to 33% market share today. Despite the fact that JD.com is the second e-commerce giant in China, it’s worth is $60 billion.
It had a financial gain of $18 billion in the 2017 fiscal year, a trend that may not continue in 2018 as the company has been heavily investing in overseas expansion, R&D, AI and Cloud services. Like Alibaba, JD has also mastered the art of manufacturing consumer holidays.