The rebrand will make it easier for local customers to remember the URL, as there was previously a disparity between the Chinese name and the website address. Now it makes makes more sense. Also, I know some foreigners who are confused between Qihoo 360 and 360buy. But it should be easier to remember now with JD as the abbreviation of Jingdong. The rebrand is also accompanied by a new logo in the form of Joy, a mascot dog.
Earlier this year, Jingdong raised $700 million from Ontario Teachers’ Retirement Fund (OTPP) and Riyadh-based Kingdom Holding. Prior to that round of funding, Jingdong raised $400 million at a valuation believed to be of $7.25 billion. The company is also believed to be preparing for a US IPO this year.
This rebranding exercise from 360buy to JD will help foreign investors to make more sense of its corporate naming. Richard Liu Qiangdong, founder and CEO of Jingdong said in today’s statement:
Jingdong is delighted to streamline its corporate brand and launch the simpler JD.com domain, which will be easier for our Chinese customers to remember.
U.S.’s Amazon also made the same move by launching Z.cn which helps Chinese customers to remember the domain name better. About a year ago, Alibaba’s Tmall also rebranded to 天猫 (loosely translated as sky cat in English) but with its Tmall.com domain name intact.