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Lekutian Begins Online Book Sales

Tencent Tech, 5/03/11

Chinese online e-commerce site, operated by Chinese internet company Baidu (Nasdaq: BIDU) and Japanese e-commerce retailer Rakuten, recently began offering books, with 20 bookstores opening storefronts on the platform.

According to an industry source, Xinhua Winshare Publishing and Media and Chaoyang Bookstore are among the twenty bookstores, with delivery services provided by 12 express delivery firms approved by Lekutian. Lekutian will receive user payments via online payment platforms such as Alibaba Group's Alipay or Baidu's (Nasdaq: BIDU) Baifubao, take a revenue share and transfer the remaining amount to the vendor. Each bookstore must pay a RMB 15,000 deposit to Lekutian, and Lekutian will take a RMB 1.5 commission for every 100 units sold.

Chinese B2C e-commerce site Dangdang (NYSE: DANG) currently holds a 50% share of the book e-commerce market, and more than 20% of the combined online and offline domestic booksellers' market.

Keywords: third-party payment e-commerce Internet Alipay Baifubao B2C Baidu market share Dangdang Rakuten revenue share BIDU online payment DANG e-payment

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