Baidu to Invest RMB 20 Bln in Nuomi.com Over Next 3 Years

Sohu IT, 6/30/15

Chinese internet company Baidu (Nasdaq: BIDU) will invest RMB 20 bln in the company's group buy website Nuomi.com over the next three years, as the company pivots toward the O2O market, according to an announcement by Baidu Chairman and CEO Robin Li.

Nuomi will launch a "Members+" strategy in which Nuomi will connect its membership system with merchants' customer relationship management (CRM) systems, to provide merchants with management and marketing services using big data technology. Nuomi will also join merchants in offering promotional services. Nuomi has launched a rechargeable restaurant card and upscale movie theater membership card this year.

Editor's Note: For more information on this topic, please see "Renren Sells Remaining Nuomi Stake to Baidu," MD 1/23/14 and "Rumor: Baidu to Launch O2O Film Business," MD 1/08/15 issues.

Keywords: financing Robin Li Internet Baidu BIDU Nuomi O2O group buying

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