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Geomagnetic location firm IndoorAtlas scores $10M investment from Baidu

2014-09-04 07:17:54| Wireless - Topix.net

Baidu now has exclusivity on using IndoorAtlas's tech within China, while the Finnish company now has a bunch more money to play with when it comes to R&D and business development.

Tags: location firm investment scores

IndoorAtlas receives USD 10 mln investment from Baidu

2014-09-03 09:29:00| Telecompaper Headlines

(Telecompaper) IndoorAtlas, a provider in magnetic positioning technology for indoor location, agreed to a USD 10 million investment from Chinese search engine Baidu. IndoorAtlas also announced it is signing an exclusive agreement for the Chinese market with Baidu. Through this partnership, Baidu intends to strengthen its indoor mapping offering in China. The company will be using the funding towards ramping up R&D, engineering and business development in the US, Asia, and Europe.

Tags: investment usd receives baidu

Wanda, Baidu, Tencent set up e-commerce JV

2014-08-29 10:12:00| Telecompaper Headlines

(Telecompaper) Chinese entertainment conglomerate Wanda Group, Chinese internet company Baidu and Chinese internet and mobile services provider Tencent have established an O2O e-commerce joint venture dubbed. The JV will invest initial capital of RMB 5 billion (approximately USD 814 million), with Wanda Group holding 70 percent equity, while Baidu and Tencent each own a 15 percent stake, respectively. Wanda E-commerce also reports it has registered a new name for the joint venture, which will be announced on the day of its official launch.

Tags: set ecommerce baidu wanda

Baidu sees Q2 revenues jump 58%, net profit up 34%

2014-07-25 08:44:00| Telecompaper Headlines

(Telecompaper) Chinese internet search provider Baidu saw its second-quarter revenues jump by 58.5 percent year-on-year to CNY 11.9 billion. Operating profit increased by 22.5 percent to CNY 3.5 billion. Traffic acquisition costs reached CNY 1.5 billion, accounting for 12.7 percent of revenue from 11.6 a year ago. Net profit was up 34.1 percent year-on-year to CNY 3.5 billion in the second quarter. Adjusted EBITDA (non-GAAP) amounted to CNY 4.494 billion for the second quarter of 2014, representing a 29.3 percent increase from the year-earlier period. For the second quarter, Baidu expects revenues of ranging from CNY 13.4 and CNY 13.7 billion, representing a increase of 50.9 to 55 percent year-on-year.

Tags: up net jump profit