Technology
Baidu to shut e-commerce platform
Updated: 2011-04-01 09:26
(Agencies)
SHANGHAI - Baidu Inc, China's largest search engine, will shut its online e-commerce store, Youa, and migrate its users to other platforms, it said on Thursday.
The shutdown will take effect in May and Youa's existing merchants will be migrated to Rakuten China and Yaodian100, Baidu said in a statement.
"This should not be seen as Baidu withdrawing from the e-commerce scene. In fact, we are in research and development on a new e-commerce platform product which will suit users better," a Baidu spokeswoman said, accroding to Reuters.
|
Youa failed to gain traction with the majority of online users who preferred to use Taobao to buy and sell goods online. Based on gross merchandise value, Taobao commands more than 70 percent of China's e-commerce market.
China is the world's largest internet market with more than 450 million users. Web commerce in China has surged in recent years as buyers in the world's second-biggest economy switch to the internet for better deals from more reliable suppliers and reasonable price.
Rakuten China is a joint venture between Baidu and Japan's largest online retailer, Rakuten Inc.
E-paper
Han me downs
Traditional 3,000-year-old clothes are making a comeback.
Reaching out
Fast growth fuels rise in super rich
Chinese tourists spend more
Specials
Big spenders
More mainland tourists are expected to spend money on overseas travel this year.
Rise in super rich
Report cites rising property prices, gdp as key drivers of increasing number of chinese millionaires.
Reaching out
Condom makers are stepping up their presence in smaller cities to boost sales