ChinaNet Online Holdings and Baidu Announce Servic
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ChinaNet Online Holdings and Baidu Announce Service Partner Agreement
BEIJING, March 30, 2015 (GLOBE NEWSWIRE) -- ChinaNet Online Holdings, Inc. (Nasdaq:CNET) ("ChinaNet" or the "Company"
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The service partner agreement, with power of attorney authorized by Baidu, allows ChinaNet to resell any related Baidu Direct Reach service with the Baidu name and conversely allows Baidu to leverage the ChinaNet brand and Business Direct 3.0 name, products and services. ChinaNet will now be positioned within Baidu's service provider ecosystem of internet and mobile products.
ChinaNet will utilize the agreement with its Business Direct 3.0, a technically marked-up service based on the Baidu Direct Reach mobile platform for traditional service enterprises, which is centered on mobile search, accounts, maps, personalized recommendations and other ways for customers to direct Reach Marketing services.
"The service partner agreement with Baidu signifies the quick success of Business Direct 3.0 launched earlier this year in cooperation with Baidu Direct Reach of Baidu," said George Chu, Chief Operating Officer of ChinaNet Online Holdings. "We have demonstrated our ability to introduce a compelling new service with Baidu, and have earned their trust to use their brand name. Additionally, our influence on the SME industry with franchises and chain stores will create opportunities for Baidu to leverage the ChinaNet brand. We believe this is another step forward in our two company's increasing levels of cooperation."
About Baidu
Baidu, Inc. is the leading Chinese language online search provider. As a technology-based media company, Baidu aims to provide the best way for people to find information and connect users with services. In addition to serving individual online search users, Baidu provides an effective platform for business to reach potential customers. Baidu's ADSs trade on NASDAQ Global Select Market under the symbol "BIDU".
About ChinaNet Online Holdings, Inc.
The Company, a parent company of ChinaNet Online Media Group Ltd., incorporated in the BVI ("ChinaNet"
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Safe Harbor
This release contains certain "forward-looking statements" relating to the business of ChinaNet Online Holdings, Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties relating to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ChinaNet's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting ChinaNet will be those anticipated by ChinaNet. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. ChinaNet undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
CONTACT: MZ North America
Ted Haberfield, President
Direct: +1-760-755-2716
Email: thaberfield@mzgroup.us
Web: www.mzgroup.us
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March 30, 2015 07:00 ET (11:00 GMT)
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