Wednesday, January 27, 2010

Joint Venture with Japanese online retailer Rakuten

The deal calls for $50 million over 3 years in a combined
online website catering to both business buyers and retail
consumers. Rakuten, which operates Japan's largest
e-commerce retail site, will own 51% of the venture, and
Baidu 49%. The online mall is expected to be China's largest
when it goes online in the second half of this year.

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