Chinese search giant Baidu is searching for its next act
Bloomberg's Tim Culpan muses on the future of Chinese search giant Baidu, after the firm made official its sale of its home delivery business, Waimai.
- This marked the end of its "online to offline" strategy, whereby the firm planned to more directly facilitate consumers purchases of physical products, rather than just selling online advertising.
- Other failed investments include the firms interest in the Chinese subsidiary of Uber, which ended with Uber China's sale to rival Didi Chuxing.
Baidu's bind: Despite a search market share of 76% in China, Baidu has struggled to impress investors of late, as search behavior in China is much different than in the U.S. and Europe.