 |
|
A side view of Baidu's headquarter in Beijing, May 22, 2014. [Photo/IC] |
BEIJING - Chinese Internet giant Baidu Inc confirmed on Wednesday it is buying a stake in fast-growing international car-hailing service Uber as the pair chase growth in one of the world's largest transportation markets.
The companies didn't disclose how big a stake Baidu is taking, nor how much it is paying for the investment.
Baidu and Uber said they would collaborate to expand Uber's presence in China, where it lags far behind Kuaidi Dache and Didi Dache, two domestic car-hailing apps backed by Baidu's rivals Alibaba Group Holding Ltd and Tencent Holdings Ltd, respectively.
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 130349 
