Baidu build relationships with uber. This happened after the two companies collaborate including Baidu investment flowing into the taxi booking app. Just a couple of weeks after it raised $1.2 billion in a round of funding that valued the company at $40 billion, Uber has announced that it has entered into a partnership with China-based search engine Baidu.
Uber CEO Travis Kalanick and CEO and founder of Baidu Robin Li announced the agreement of both companies in the signing of the agreement on Baidu's headquarters in Beijing. Citing from techspot.com, Under the terms of the agreement, which was announced at a signing ceremony at Baidu headquarters in Beijing, the Chinese company has agreed to make an investment in Uber. Although the amount of the investment was not disclosed, rumors are that it could be to the tune of $600 million, giving Baidu around 1.5 percent equity in the ride-sharing startup.
“Uber’s rapid growth in the last four years is testimony to the tremendous demand for easy, reliable, and inexpensive transportation. We’re delighted that we can work together to help meet that demand—and we’re excited by this pioneering strategic partnership between a Chinese and an American Internet company,” said Baidu Chairman and CEO Robin Li.
Uber currently operates in nine cities in China, including Beijing, Shanghai, Tianjin, Chongqing, Shenzhen, Guangzhou, Wuhan, Chengdu, and Hangzhou. The partnership will not only help the California-based company boost its presence in the Asian country, but it would also help it maintain a good rapport with the authorities given the fact that Baidu is already in the good books of the Chinese government.
Baidu is the leader in mobile search, mobile mapping, and distribution applications in China. Mobile search engine Baidu has more than 500 million active users each month, and Baidu Map has more than 240 million monthly active users. Baidu is the largest mobile application distribution platform in China, which distributes an average of 160 million applications every day.