Baidu and Lotte 50 million joint venture into the B2C

news January 27th, Baidu Inc today and Japan’s largest e-commerce website Lotte announced, will set up a joint venture company in the next three years to $50 million, to create a comprehensive B2C online shopping mall for Chinese users.

It is reported that

, the cooperation agreement has been signed, the online shopping mall of the preparatory work is progressing smoothly, will be officially launched "open for business" in the second half of this year, the scale will be more than any other country in an online shopping mall B2C.

Japan Lotte was founded in 1997, is the world’s B2C platform model pioneer and leader. Lotte is Japan’s largest online shopping company, up to now, there have been more than 3 thousands of regular brand manufacturers and channel operators engaged in trading in Lotte B2C e-commerce platform in japan. Baidu, as the world’s largest Chinese search engine, has a huge brand appeal and influence in china. According to reports, Baidu Lotte joint investment to build the online shopping mall will introduce all kinds of domestic and foreign well-known brands.

Baidu market and business development vice president Ren Xuyang said, with the rapid development of the Internet in China, more and more enterprises, businesses and consumers began to join e-commerce. I believe that Baidu and Lotte to build powerful B2C platform will give the user a more diverse Internet shopping experience, will further promote China e-commerce industry more prosperous."

Lotte Group senior vice president Yuno Kentaro said: "Baidu has a huge user base in Chinese and Lotte influence and operating experience in B2C platform in the field of rich complement each other. Through the operation of the joint venture, we will provide users with the best online shopping environment, will also strive to create an excellent e-commerce platform, with the majority of SMEs and well-known brands to grow together."

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