The leading Internet search provider in Chinese language, BAIDU Inc., and the largest e-commerce business website in Japan, RAKUTEN Inc., have announced their partnership to form joint venture company and create China’s largest B2B2C (business to business & business to consumer) online shopping mall. Total investment will be 50 milion US$ during three years. BAIDU will own 49% and RAIKUTEN the resting 51% of the new company previewed to start in the second half of 2010.
Obviously, the Chinese Internet space booming development has attracted the Japanese pioneer in e-commerce business. Chinese Internet community is caracterized by its strong growth and an increasing number of consumers and businesses engaged in e-commerce. The new joint venture will offer to a Chinese customer high-quality national and foreign brands just as products from small and medium sized enterprises, providing the best possible online shopping environment.
RAKUTEN Inc. own RAKUTEN ICHIBA, the largest Internet shopping mall in Japan being the 2nd ranked in the global B2C e-commerce business, while BAIDU is the largest Chinese language search engine used to be compared with GOOGLE.
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BAIDU INC. (NASDAQ: BIDU)
RAKUTEN INC. (PNK: RKUNF.PK) (JSD:4755)
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