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Baidu Reveals Plans Of Investing In Zomato & Other Indian Start-Ups

2 years ago

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Chinese web services company Baidu, Incorporated said in a recent statement that it is in talks to invest in Indian e-commerce start-ups like Zomato, BookMyShow and BigBasket.

Although the time frame and exact amount to be invested still lack clarity in disclosure, the company did show a keen interest and appreciation for the Indian market.640px-Baidu.svg

“The Indian market represents an enormous opportunity for us to connect more people with services, and we plan to put more resources there in the future,” the spokesman told Reuters by email.

In a country where about 20% of a 1.3 billion population are connected to the Internet, the e-commerce space has witnessed a growth boom in the past few years. The sector owes this growth to the massive online presence of sellers and customers.feature image online grocery

This is not the first time that India’s growth potential has lured in international business magnates. The space has received funding from global mullahs like China’s Alibaba Group Holding Ltd and Japan’s SoftBank Group Corp.

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Binge eater by day and binge watcher by night, Ankita is fluent in food, film, and Internet. When she’s not obsessing over the hottest trends, tacos, and the perfect author’s bio, you can find her under a pile of Jeffery Archer’s novels or looking for the nearest wine shop.