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Baidu and Lotte co-financing to set up joint venture B2C
Baidu and Rakuten, Japan's largest e-commerce site jointly announced in the next three years to co-financing  50 million U.S. dollars on a joint venture, which is aimed at seting up the Chinese lagest and comprehensive customers online shopping mall for B2C.
 
The two sides have signed the cooperation agreement completely, the online mall for all preparatory work are progressing well and will be operated later this year, Lotte will own 51% stock joint venture and the right, the remaining 49% stock is occupied by Baidu.
 
It is worth that Baidu has just announced to start online video services, and establish an independent online-video company, the former president and COO Gongyu has been invited to be CEO in the new company, which means that by 2010, Baidu has been enhanced the layout in the two major areas of network video and B2C online shopping. Baidu as China's largest search engine, its branding, technology and using flows have a great advantage for the joint venture of joint venture company's business to provide strong support.
 
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