Baidu takes a bite of Womai
By Ma Si And Meng Jing | China Daily | Updated: 2015-10-13 08:40
Search engine giant to invest $20 million in COFCO's online fresh food retailer
Search engine major Baidu Inc is entering the e-commerce sector for fresh produce by investing $20 million in a local online food retailer.
Baidu has joined the latest $200 million funding round for Womai, a food website owned by China National Cereals, Oils and Foodstuffs Corp, a leading supplier of agricultural products, which is better known as COFCO Corp, said a report on qq.com, a news portal run by Tencent Holdings Ltd.
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