Associated Press

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.

Chinese internet users spend more time on e-commerce relative to search engines, compared with their U.S. peers, and that means rivals like Alibaba are capturing a greater share of the online advertising market.

  • The firm is therefore trying to generate other revenue sources to combat the decline of its search business, but has had little success so far. It's latest gambit is an attempt is a partially open-source autonomous driving platform, but experts in the field are skeptical that it can overtake rivals like Google in the space.
  • According to Culpan, "This means Baidu will have to transform itself from a consumer company to a provider of technology to corporations, with the requisite management structure and sales teams to make it happen," suggesting the firm cannot afford to screw up the transition.

Go deeper

Ilhan Omar wins Minnesota primary

Photo: Stephen Maturen/Getty Images

Rep. Ilhan Omar (D-Minn.) won the Democratic primary against lawyer Antone Melton-Meaux on Tuesday evening, AP reports.

Why it matters: The race is one that's played out across the U.S. as progressives continue to sweep party nominations. Omar's win officially means all four progressive members of "The Squad" have won their primary elections.

Updated 3 hours ago - Politics & Policy

25 face felony charges after downtown Chicago hit by looters

Police officers inspect a damaged Best Buy in Chicago that was looted and vandalized. Photo: Scott Olson/Getty Images

Local police officers are seeking felony charges in 25 cases following the arrest of 100 people in the wake of widespread looting and property damage in Chicago on Monday, per the Washington Post.

Driving the news: Law enforcement said the event involving hundreds of people was a coordinated response after an officer shot a suspect Sunday evening, according to CBS Chicago.

Marjorie Taylor Greene wins Georgia's 14th district runoff

Photo: Elijah Nouvelage / Getty Images

Gun-rights activist Marjorie Taylor Greene defeated physician John Cowan in a runoff election for the Republican nomination in Georgia's deep-red 14th Congressional District on Tuesday, AP reports.

Why it matters: Greene, a vocal QAnon conspiracy theorist who has been condemned by GOP leaders for making multiple offensive remarks about Black people, Jews and Muslims in Facebook videos, is likely to win a seat in the House come November.