Rakuten, a major e-commerce company based in Japan, has partnered with Baidu, a top search engine and popular website in China, to launch an online shopping mall for Chinese consumers. Rakuten CEO Hiroshi Mikitani said Baidu will generate traffic while Rakuten will provide online retailing expertise. The companies plan to invest roughly $50 million over the next few years in Lekutian, as the new site is called.

Related Summaries