Baidu (BIDU) Stock Rushes Up On E-Commerce Move
October 17, 2007 by Douglas A. McIntyreBaidu (BIDU), which operates the most popular search engine in China, has traded as high as 70x revenue. The stock was beateen down last week, but it appears that the little drop is about to end.
Baidu shares are up over 4% on news that it will enter the Chinese consumer e-commerce market.
The company said it has a 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 service,
Search engines already play a critical role in the Chinese e-commerce market. According to iResearch, 49% of China’s current consumer-to-consumer users conducted searches before visiting e-commerce sites
Douglas A. McIntyre
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