{"id":29675,"date":"2014-08-27T12:34:42","date_gmt":"2014-08-27T16:34:42","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=29675"},"modified":"2014-08-27T12:34:42","modified_gmt":"2014-08-27T16:34:42","slug":"baidu-inc-adr-nasdaqbidu-teams-up-with-wanda-and-tencent-for-813-million-e-commerce-deal","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/baidu-inc-adr-nasdaqbidu-teams-up-with-wanda-and-tencent-for-813-million-e-commerce-deal-29675","title":{"rendered":"Baidu Inc (ADR) (NASDAQ:BIDU) Teams Up With Wanda and Tencent For $813-Million E-Commerce Deal"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 08\/27\/2014 (wallstreetpr) \u2013 According to reports, <strong>Baidu Inc (ADR)(NASDAQ:BIDU)<\/strong> has decided to join hands together with internet giants Tencent Holdings Ltd and Dalian Wanda Group for an e-commerce joint venture. The <a href=\"http:\/\/profit.ndtv.com\/news\/corporates\/article-chinas-wanda-tencent-baidu-team-up-for-813-million-e-commerce-deal-report-654933\" target=\"_blank\">$813 million<\/a> worth of a joint venture will be launched by Dalian Wanda Group with the help of BIDU and Tencent Holdings Ltd. The information was made public by the sources close to this matter.<\/p>\n<p style=\"text-align: justify;\"><strong>Breakup of joint venture: <\/strong><\/p>\n<p style=\"text-align: justify;\">As per the information made public by the company 70% stake of the joint venture will be held by Wanda, while Baidu Inc (ADR)(NASDAQ:BIDU) and Tencent Holdings Ltd will hold 15% stake each. The official announcement and further details about this joint venture are set to be announced in a couple of day\u2019s time. Baidu Inc (ADR)(NASDAQ:BIDU) and other two companies are placed among the top three non-state companies of China.<\/p>\n<p style=\"text-align: justify;\">If taken into consideration the market condition of China over the past few years, one can easily understand the fact that the local market conditions are ideal for the e-commerce industry. With the growing popularity of smartphone market and laptops in the recent years, the future scope of the e-commerce industry is very good. Wanda is a well-known commercial property, film conglomerate and luxury hotel of China. It is controlled by Wang Jianlin; the wealthiest billionaire of China with a net-worth of $16 billion according to the data published in Forbes. It bought US-cinema operator AMC Entertainment Holdings Inc two years back in 2012. Currently, it runs around 83 departmental stores throughout China.<\/p>\n<p style=\"text-align: justify;\">When it comes to Tencent, it is a Shenzhen-based video game and social media mammoth. It is the biggest listed internet firm of China with a market capitalization of $156 billion. Baidu Inc (ADR)(NASDAQ:BIDU) is a dominant search engine provider of China. When reporters tried to get in touch with any spokesperson of Wanda, no one came ahead for any comment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 08\/27\/2014 (wallstreetpr) \u2013 According to reports, Baidu Inc (ADR)(NASDAQ:BIDU) has decided to join hands together with internet giants Tencent Holdings Ltd and Dalian [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":29676,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[3968,3967,711,8448,8447],"stock_ticker":[],"class_list":["post-29675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-baidu-inc-adr","tag-baidu-inc-adr-nasdaqbidu","tag-nasdaqbidu","tag-tencent-holdings-ltd","tag-wang-jianlin","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Baidu Inc (ADR) (NASDAQ:BIDU) Teams Up With Wanda and Tencent For $813-Million E-Commerce Deal - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/baidu-inc-adr-nasdaqbidu-teams-up-with-wanda-and-tencent-for-813-million-e-commerce-deal-29675\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Baidu Inc (ADR) (NASDAQ:BIDU) Teams Up With Wanda and Tencent For $813-Million E-Commerce Deal - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"Boston, MA 08\/27\/2014 (wallstreetpr) \u2013 According to reports, Baidu Inc (ADR)(NASDAQ:BIDU) has decided to join hands together with internet giants Tencent Holdings Ltd and Dalian [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cablemanpro.com\/wallstreetpr\/baidu-inc-adr-nasdaqbidu-teams-up-with-wanda-and-tencent-for-813-million-e-commerce-deal-29675\" \/>\n<meta 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