BEIJING, Oct. 17 /Xinhua-PRNewswire/ -- Baidu.com, Inc. (Nasdaq: BIDU),
the leading Chinese language Internet search provider, today announced its
strategic plan to enter the Chinese e-commerce market. Baidu will leverage
its high user traffic and large online communities to build a consumer-to-
consumer (C2C) service.
"We are very excited to enter the rapidly growing Chinese e-commerce
market," said Robin Li, chairman and chief executive officer of Baidu.
"Baidu's extensive user base and rich experience in Chinese language search
makes e-commerce a natural step for expansion."
Search engines already play a critical role in the Chinese e-commerce
market. According to iResearch, 49% of China's current C2C users conducted
searches before visiting e-commerce sites(1).
(1) Source: iResearch, June 2007
"In China, e-commerce is still in the early stages of development,"
continued Mr. Li. "With Baidu's high user traffic, popular community
platforms, cutting edge technology and commitment to providing users with the
best Internet experience, we are confident that Baidu will become a leader in
the Chinese e-commerce space."
Baidu has already established a new department dedicated to the
development of innovative e-commerce technologies. The Company plans to
continue talent recruitment and launch the C2C service in 2008.
Baidu.com, Inc. is the leading Chinese language Internet search provider.
As a technology-based media company, Baidu aims to provide the best way for
people to find information. In addition to serving individual Internet search
users, Baidu provides an effective platform for businesses to reach potential
customers. Baidu's ADSs, each of which represents one Class A ordinary share,
are currently trading on the NASDAQ Global Market under the symbol "BIDU."
Safe Harbor Statement
This announcement contains forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and similar
statements. Among other things, quotations from management in this
announcement contain forward-looking statements. Statements that are not
historical facts, including statements about Baidu's beliefs and expectations,
are forward-looking statements. Forward-looking statements involve inherent
risks and uncertainties that could cause actual results to differ materially
from those contained in any forward-looking statements. Further information
regarding these and other risks is included in our annual report on Form 20-F
and other documents filed with the Securities and Exchange Commission. All
information provided in this press release is as of October 17, 2007, and
Baidu undertakes no duty to update such information, except as required under
For investor inquiries please contact:
Tel: +86-10-8262-1188 x8239
For investor and media inquiries please contact:
Ogilvy Public Relations Worldwide (Beijing)
Ogilvy Public Relations Worldwide (New York)
SOURCE Baidu.com, Inc.
/CONTACT: Lynn Lin of Baidu.com, Inc., +86-10-8262-1188 x8239, or
firstname.lastname@example.org; Helen Plummer (China) of Ogilvy Public Relations Worldwide
(Beijing), +86-10-8520-3090, or Helen.email@example.com; Thomas Smith (US) of
Ogilvy Public Relations Worldwide (New York), +1-212-880-5269, or
firstname.lastname@example.org, all for Baidu.com, Inc./
/Web site: http://www.baidu.com /
CO: Baidu.com, Inc.
IN: CPR ECM ITE MLM
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0257 10/17/2007 09:02 EDT http://www.prnewswire.com