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Baidu, taxi app Uber sign investment agreement

2014-12-18 08:15 Xinhua Web Editor: Qin Dexing

China's leading search engine Baidu signed a strategic cooperation and investment agreement with the U.S. car-hailing service Uber on Wednesday in Beijing.

According to the agreement, Baidu will invest in Uber, but the company didn't disclose how much the investment was worth.

The two companies will cooperate to promote technological innovation, develop the international market and China's "online to offline", O2O service in the future.

The agreement will allow Uber to use Baidu's advanced technologies in multimedia, big data and artificial intelligence, and expand its share in emerging markets.

Meanwhile, Baidu can also expand global mobile service market with the help of Uber's abundant customers and offline service capability.

Baidu chairman and CEO Robin Li said this is a pioneering strategic partnership between a Chinese and an American Internet companies.

He said Baidu's strategy is to connect people with service in the mobile Internet era. What people need is service related to food, clothing, shelter and transportation. This is why Baidu has decided to cooperate with Uber, which can provide transportation service to users, he said.

Uber's CEO Travis Kalanick was also present at the signing ceremony on Wednesday. He said this cooperation is a milestone for Uber, which runs in more than 250 cities across the world, and the Asia-Pacific region has been a key area of growth.

As one of China's Internet giants, Baidu has operated businesses in regions including Southeast Aisa, the Middle East, and Latin America. 

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