Facebook, Baidu said to clinch JV
By Ding Yining |
01:30 UTC+8 April 12, 2011
|
Print Edition
Print Edition
BAIDU, China's largest search engine operator, is said to have reached an agreement with Facebook to set up a social-networking website in China.
Facebook, the world's most popular social-networking service operator, will establish with Baidu an independent networking website that is not connected to the international site, Sohu.com reported yesterday, citing unidentified employees at the Chinese company.
Facebook Chief Executive Officer Mark Zuckerberg and Baidu CEO Robin Li had several meetings before reaching the deal, Sohu's report said.
Baidu couldn't be reached for comment yesterday.
Observers, however, pointed out that it would take some time for regulatory approval to be given to the joint venture before it is able to start operations on Chinese mainland.
Rumors swirled over the weekend that Facebook had held talks to explore entering the Chinese market, the world's largest with an Internet user base of 450 million, with potential partners.
During his visit to China in December, Zuckerberg met Li and also several executives from other companies, including China Mobile, Sina Corp and Alibaba Group.
Baidu has more than 80 percent of China's search engine market, far ahead of Google's 23 percent, according to data by iResearch Inc. Now it is expanding into the social-networking service sector.
Separately, Baidu yesterday unveiled an online recruiting website, rencai.baidu.com, that allows job seekers to upload resumes and employers to seek staff.
Facebook, the world's most popular social-networking service operator, will establish with Baidu an independent networking website that is not connected to the international site, Sohu.com reported yesterday, citing unidentified employees at the Chinese company.
Facebook Chief Executive Officer Mark Zuckerberg and Baidu CEO Robin Li had several meetings before reaching the deal, Sohu's report said.
Baidu couldn't be reached for comment yesterday.
Observers, however, pointed out that it would take some time for regulatory approval to be given to the joint venture before it is able to start operations on Chinese mainland.
Rumors swirled over the weekend that Facebook had held talks to explore entering the Chinese market, the world's largest with an Internet user base of 450 million, with potential partners.
During his visit to China in December, Zuckerberg met Li and also several executives from other companies, including China Mobile, Sina Corp and Alibaba Group.
Baidu has more than 80 percent of China's search engine market, far ahead of Google's 23 percent, according to data by iResearch Inc. Now it is expanding into the social-networking service sector.
Separately, Baidu yesterday unveiled an online recruiting website, rencai.baidu.com, that allows job seekers to upload resumes and employers to seek staff.
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