News Column

Baidu Sets Foot in Traditional Education

July 7, 2014

BEIJING, July 7, SinoCast -- Insiders told reporters that Baidu Inc. (Nasdaq: BIDU) has invested in Beijing Wanxue Education Technology Co., Ltd. in C round financing of the latter, with China Renaissance acting as financial advisor.

Baidu board chairman Robin Li, who proposed that traditional fields should be turned over by the Internet industry, has extended reach to traditional education.

The source has revealed no specific investment value, only saying that the investment at least reach tens of millions US dollar.

Both the investor and the investment target have made no response. Reporters learnt that Beijing Wanxue Education has gotten domain name of Baidu.

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Source: Sinocast Internet, Media & Online Services Beat (China)

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