Categories: Social Media News

China’s Baidu Is Increasing Its Indian E-commerce Exposure?

Chinese search engine company Baidu reportedly plans to acquire a controlling stake in Mydala.com, a leading e-commerce platform for discounted products in India.

According to reports in Indian local media, Baidu expressed an intention to acquire a majority stake in Mydala.com and the investment can reach up to USD100 million, which is about CNY630 million. Neither Baidu nor Mydala.com have commented on the news.

The reports also revealed that Mydala.com, operated by Kinobeo Software, is one of the largest e-commerce platforms that focus on the sale of discounted products in India. The company is currently seeking its first round financing between USD150 million and USD200 million. With six years of operation, Mydala.com is 44% owned by Info Edge; while most of the remaining equity belongs to the company founder and employees.

The official website of Mydala.com claims that its provides services in 209 cities across India, with over 100,000 vendors.

In January 2015, Baidu opened an office in Gurgaon, India. In addition, the Chinese company launched four mobile products in India and claimed in September 2015 that they gained 45 million monthly active users.

Social Media Asia Editor

Recent News

British woman missing in Thailand after fire breaks out on diving boat

A British woman is missing in Thailand after a diving boat she was on caught…

19 hours ago

British tourist missing after diving boat horror off coast of Thai island

A British tourist is missing in Thailand after the boat she was travelling on caught…

19 hours ago

Do you want some good news on St Patrick’s Day? Course you don’t

Do you want some good news? About the rude health of Irish democracy? No? I…

20 hours ago

The Renault 5 Turbo 3E Is an Electric ‘Mini Supercar’

Renault is serious about selling the wacky 5 Turbo 3E. After showing the concept in…

23 hours ago

“Get fat now!” commands Tokyo restaurant that gives you the means to do just that

Shibuya ramen restaurant’s new dish contains copious calories but no noodles. “Get fat now!” That’s…

1 day ago

British tourist missing after diving boat catches fire off Thai island

A British tourist is missing in Thailand after the tour boat she was travelling on…

1 day ago