Baidu Bets $300 Million against Alibaba

Baidu Bets $300 Million against Alibaba

Baidu (BIDU) recently led a $300 million investment round in Xinchao Media, a Chinese outdoor advertising company. Xinchao specializes in elevator advertising, delivering ads in more than 700,000 elevators across more than 100 cities in China. The investment opens a door for collaboration between Baidu and Xinchao. Baidu plans to utilize the relationship to help Xinchao make its ads more relevant.