Online B2C JV Seeks To Take Aim At Taobao
By Cathy Ding |
October 20, 2010, Wednesday
|
Print Edition
Print Edition
BAIDU Inc, China's biggest search engine, waded into the country's online retail market with a new joint venture as it takes aim at e-commerce leader Taobao.com.
Baidu teamed up with Japanese e-commerce company Rakuten Inc yesterday as it launched its online B2C platform Lekutian to tap the growing online shopping demand from more than 400 million Internet users in China.
Rakuten and Baidu announced their intention to invest US$50 million over the next three years to build the new website, which is 51 percent held by Rakuten and 49 percent by Baidu.
The volume of China's consumer e-commerce market is expected to climb to more than 1.5 trillion yuan (US$226 billion) by 2014, Deutsche Bank said in an August report.
Baidu teamed up with Japanese e-commerce company Rakuten Inc yesterday as it launched its online B2C platform Lekutian to tap the growing online shopping demand from more than 400 million Internet users in China.
Rakuten and Baidu announced their intention to invest US$50 million over the next three years to build the new website, which is 51 percent held by Rakuten and 49 percent by Baidu.
The volume of China's consumer e-commerce market is expected to climb to more than 1.5 trillion yuan (US$226 billion) by 2014, Deutsche Bank said in an August report.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
