[Baidu has divested its international business, AI has expanded its global presence in the sea] Baidu has adjusted its boots to another level.
On May 21st, Baidu announced that it will spin off its global mobile applications and DAP advertising platform business in its international business, financing the establishment of a new company, Xiaobong Bowang, and operating independently, using capital synergy to strengthen the mobile ecosystem. Hu Yong, general manager of the original Baidu International Division, served as CEO.
It is reported that this year's financing is led by Shenzhen Innovation Investment Group Co., Ltd. (referred to as "Shenzhen Venture Capital"), and Shenzhen Venture Capital and its associated funds and institutions have a total shareholding of 53%. Baidu, as an important shareholder of Xiao Xiong Bowang, still retains a large proportion of equity. Huaxing Capital acted as the exclusive financial advisor to Baidu's spin-off business.
Baidu said that as the top developer of global mobile applications, the original Baidu International ranked first in its category for the total number of global downloads of its various products; at the same time, as a bridge for Chinese developers to go to sea, the DAP mobile advertising platform based on machine learning algorithms is China's largest mobile native advertising platform.
Hu Yong and his team have long focused on overseas mobile application development and mobile advertising platform operations, and have accumulated rich experience in the field of internationalization. Baidu hopes to introduce the support of external funds and resources through independent operations, further release the business potential, and accelerate the construction of Baidu's open ecosystem. After the spin-off, Bear's hope will continue to deepen the development of global mobile applications and mobile advertising platform DAP operations, providing a platform for China's mobile application developers.
At the same time, Shenzhen Capital invested in the number of investment companies, and the number of listed companies in investment ranks first in the domestic PE/VC industry. It has rich investment and management experience in independent innovation high-tech enterprises and other fields, and is also the only domestic holding company to achieve small and medium enterprises. IPO venture capital companies, the introduction of deep venture capital, can enhance the resource integration and capital operation capabilities of Xiongbowangwang.
After the strategic transformation of focused artificial intelligence and information flow, Baidu began to merge, split, and sell certain businesses in recent years. Currently Baidu has completed the spin-off of Baidu Finance, the sale of Baidu’s take-out, and the abolition of Baidu’s medical division. In addition, the sale of Baidu glutinous rice is also brewing. In October last year, news broke out that Baidu’s international business was also one of the goals that had been split.
Baidu's international business started in 2006, and its main business in overseas markets is tool-type products, such as Baidu Know, BaiduBrowser, DUSpeedBooster, DUBatterySaver and Mobomarket.
Baidu will set up a new international business unit focusing on AI business, expand the global distribution of AI products, including Baidu overseas AI input method Facemoji, Simeji and AI recommendation engine tools and other products, and focus on creating localization of AI technology products. It laid the foundation for Baidu’s core business to go to sea, including promoting the globalization of DuerOS and Apollo. The new Baidu International Division is led by senior director Zhang Chenghuan and continues to report to Baidu President Zhang Yaqin.
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