Baidu forms online shopping mall JV
China Daily | Updated: 2010-01-28 08:11
Baidu Inc, a major Chinese language Internet search provider, and Rakuten Inc, the largest e-commerce website in Japan, yesterday announced an agreement to jointly invest $50 million over three years in a joint venture to build a B2B2C online shopping mall for Chinese-Internet users.
B2B2C refers to an online marketplace that links and provides value-added services to both businesses to business (B2B) and business to consumers (B2C).
The online mall will purportedly provide customers with high-quality merchandise from well-known Chinese and foreign brands as well as from small- and medium-sized enterprises, all at competitive prices.
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