Beijing Business Today, 8/04/17
Chinese internet company Baidu's (Nasdaq: BIDU) restaurant takeout delivery platform, Baidu Takeout Delivery, is considering investing up to RMB 1 bln in mobile O2O fresh food platform Shidexian, operated by Guangzhou-based Youguoshu Network Technology, according to an industry source. The two businesses are reportedly cooperating already on deliveries from Shidexian's outlets.
Baidu Takeout Delivery declined to comment on the matter, but a spokesperson for Shidexian said that the companies are cooperating on deliveries for some Shidexian outlets, and added that Shidexian will take advantage of Baidu Takeout Delivery's support to rapidly expand its market coverage before the end of the year.
Shidexian is an online fresh food platform serving users throughout Guangzhou province. It has also set up integrated warehouse and supermarket offline experience centers and its own cold-chain logistics team.