Baidu intends to hold ndia discount shopping site Mydala

[Abstract] Baidu recently made it clear that it intends to invest in India and Indonesia.

 

Tencent science and technology news on November 10th, India media quoted sources said that Baidu intends to share India’s largest discount shopping site Mydala.com, the two sides are currently on the matter to negotiate. If the transaction takes place, it will be the first time Baidu will invest in India.

two claimed to know the source of the negotiations, said Baidu has expressed interest in the acquisition of most of the shares of Mydala.com, the maximum amount of investment may reach $100 million. The two sources also revealed that the site’s parent company Kinobeo hope that the valuation of the company increased to between $1.5 to $200 million. In addition, Malaysia sovereign fund Mydala.com Holdings (Khazanah Nasional Berhad) also want to control the.

Baidu recently expressed its intention to invest in India and Indonesia market. Some media reported earlier, Baidu chief financial officer Li Xinzhe has said that the two major emerging economies, there are many similarities with China in the development model".

Mydala.com spokesman declined to comment on the matter, saying the company will not respond to outside speculation.

Baidu

also declined to comment, but a spokesman said: "of course, in the future, all contribute to the growth of the company in the local user groups as well as strategic investment or acquisition can be a solid foundation for our products to lay the possible. In the long run, we definitely want to enter the India market."

Baidu opened its office in India, Gurgaon in January, and has launched four mobile products in India. Baidu said in September that the company has 45 million active users in India.

Baidu in October 2014 held a Brazil discount shopping site Peixe Urbano. India investment bank Khetal Advisors managing partner Walia (Kunming Laura · Kunal Walia) commented: "Baidu has been in India (discount) looking for opportunities. They noted the huge user base here, with particular focus on the development of small and medium enterprises."

is eager to seek funding for the development of India companies, China’s Internet giant will bring more than just investment. With its own technology and business model, Tencent, Alibaba and Baidu has been successful in the global market, can be in the market segments against Amazon, Google (micro-blog) and other Internet giants.

in August this year, India medical services startups Practo won $90 million investment led by Tencent. A month later, Alibaba and its subsidiaries in the financial services to India’s largest cloud mobile payment and business platform Payt>

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