Baidu Leads $60 Million Investment to Establish

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
Baidu Leads $60 Million Investment to Establish Brazil-Based Investment Fund 'Easterly Ventures'

BEIJING, CHINA--(Marketwired - Sep 28, 2016) - Baidu, Inc. (NASDAQ: BIDU), the leading Chinese language Internet search provider, today announced that it is the lead investor in a new USD $60 million Brazil-based investment fund named "Easterly Ventures". Easterly Ventures will focus on providing funding, technology, local traffic and industry expertise for Brazilian tech startups, with the goal of building a robust mobile service ecosystem in Latin America.

Baidu announced its investment during an event in São Paulo, which was attended by over 200 Internet industry executives. At the event, General Manager of Baidu Brasil and President of the Brazilian O2O Association Mr. Yan Di said that Easterly Ventures will be Brazil's first Internet investment fund of its kind to provide startups with the combination of capital, technology, traffic and experience necessary to penetrate national and international markets.

"We strongly believe that Easterly Ventures will be a winner in Brazil's talent-rich market, applying learnings from China to build out the mobile ecosystem here," said Mr. Yan Di. "Brazil's economy is expected to rebound in the year ahead. There is absolutely no better time to enter this market," he said. Easterly Ventures plans to invest in as many as 15 Brazilian startup companies during its investment period, with the first investment slated for late 2016.

Easterly Ventures is the latest of Baidu's many initiatives to support the growth of Latin America's tech industry. Previously, Baidu Brasil teamed up with the Latin American Association (LAAS) and top universities to promote its startup incubator projects "Baidu Accelerate" and "Baidu Class". In 2015, Baidu Brasil founded Brazil's first business community for online-to-offline (O2O) companies, the Brazil O2O Association. In 2014, Baidu acquired the Brazilian group-buying platform Peixe Urbano, and successfully expanded its market share from 30% to 70% over the course of one year.

Baidu's international mobile apps now have a combined 300 million monthly active users worldwide, with 27 million in Brazil. Its mobile advertising platform DU Ad Platform receives over 150 million ad requests in Brazil on a daily basis.

About Baidu Baidu, Inc. is the leading Chinese language Internet search provider. As a technology-based media company, Baidu aims to provide the best and most equitable way for people to find what they're looking for. In addition to serving individual Internet search users, Baidu provides an effective platform for businesses to reach potential customers. Baidu's ADSs trade on the NASDAQ Global Select Market under the symbol "BIDU". Currently, ten ADSs represent one Class A ordinary share.

Baidu's Global Business Department global@baidu.com

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Jacobite Steam Train Redefines the Harry Potter Experience

Updated Category News Views 59

Turn Fantasy into Reality: A Ride Unlike Any Other Ever fantasized about stepping right into the pages of your favorite tale? Well, the Jacobite Steam Train gives Potterheads just that: a literal ride through Harry Potter’s world, but in the heart of Scotland. As HBO's fresh take on the Harry Potter series is about to drop this Christmas, the buzz is lining the tracks...

Continue Reading
Jill De Forest Honored: A Journey Through Recruitment

Updated Category News Views 74

A Force in Recruitment: Jill De Forest There's a name that reverberates through the corridors of executive search and recruitment: Jill De Forest. Recognized by The Inner Circle as the Pinnacle Professional of The Year, De Forest has left a profound mark on the industry with her knack for matching exceptional talent to major brands. Trailblazing through Executive Search...

Continue Reading
Meijer Team Gives Fuels Midwest Nonprofits: $3M Impact

Updated Category News Views 84

Power to the Team: Meijer Makes Big Moves On any ordinary day, you'd see folks in Grand Rapids, Michigan, bustling about their routines, but today packs a different vibe. Meijer, the retailer that's been around the block a few times, is handing over a serious chunk of change to the tune of $3 million. This ain't just some half-hearted corporate stunt. Nope, this is the...

Continue Reading
HANGCHA's AI-Fork Revolution: Bold Steps to 2030

Updated Category News Views 12

Forklifts and the Future: A Fork in the Road for HANGCHA There's a movement happening, folks, and I don't mean in the usual stock ticker shift way. We're talking forklifts here—AI-powered, no less. HANGCHA Group, a name that may or may not roll off the tongue but sure makes waves in manufacturing, just held its 4th Global Dealers Conference in Hangzhou, China. If you're...

Continue Reading
SEEKINK Dazzles with Game-Changing ePaper Innovations

Updated Category News Views 77

A New Dawn for ePaper Technology In the whirlwind of the Electronica 2026 expo in Munich, it wasn’t some Silicon Valley juggernaut, but SEEKINK and TOPTE making headlines with their cutting-edge ePaper innovations. These folks may be quiet players, but with hall fans stirred and tongues wagging at Hall B6 Booth 518, they're changing the game in sustainable display tech....

Continue Reading
Wood Partners Commences on 301-Unit Alta Meadowlands

Updated Category News Views 129

Planting the Seeds for Alta Meadowlands It's all systems go for Wood Partners and GrayCo as they kick off construction on Alta Meadowlands in Hillsborough, North Carolina. Now, this isn't just another boxy warehouse masquerading as an apartment complex. We're talking a real commitment to shaking up the local real estate scene—a 301-unit community right in the...

Continue Reading
NYSE Salutes Veterans and Shares Market Insights

Updated Category News Views 53

Honoring Veterans at the NYSE It's not every day you see the hustle and bustle of the NYSE pause for a moment of reflection, but Veterans Day is one of those rare occasions. Before traders dive into the chaos of buying and selling, there's a solemn recognition of those who've soldiered on for our freedoms—a refreshing pause, if you ask me. As Brigadier General Matthew...

Continue Reading
Victaulic's Top Honors for Supporting Reservists

Updated Category News Views 50

Victaulic's latest accolade isn't just some badge to hang on the wall. This 5 STAR rating from Friendly Forces is a testament to a rock-solid commitment that goes way beyond lip service. It's about real backing for the Reservists who often juggle dual lives—combining military demands with civilian careers. Backing Reservists: Victaulic Steps Up Big When you look at how...

Continue Reading
Yeastar 2026 Summit: AI, Growth, and Global Vision

Updated Category News Views 107

Reflecting on Two Decades of Innovation Yeastar's 20th anniversary summit in Xiamen was no ordinary gathering. It wasn't just about handshakes and business cards. Nope, it was a celebration intertwined with a deeper vision of growth and influence in the UCaaS space that Yeastar has carved out for itself over the years. Here's a company that's been plotting its course for...

Continue Reading
Alyssa Bunch: Big Moves in Tennessee Real Estate

Updated Category News Views 177

Navigating the Tennessee Real Estate Maze If you're talking about where the real estate action happens in Tennessee, you'd better mention Alyssa Bunch, the Vanderbilt-educated dynamo who turns the unforsale into the must-buy. Most of the deals she orchestrates are invisible to the public eye until they're all but written in ink and ready to reshape landscapes—or, more...

Continue Reading

Top 5 Most Recently Viewed Articles

Harrow Inc. Secures $30 Million Financing to Propel Growth

Updated Category News Views 201

Harrow Inc. Bolsters Financial Position with $30 Million Amendment In a significant move, Harrow Inc. has amended its existing credit agreement to secure an additional $30 million funding. This strategic decision comes as the company continues to navigate the competitive landscape of the pharmaceutical industry. Details of the Credit Amendment The recent amendment,...

Continue Reading
Insightful Analysis on Jupiter Fund Management's Stake in Dowlais

Updated Category News Views 155

Overview of Jupiter Fund Management's Stake Jupiter Fund Management Plc plays a pivotal role in owning shares in Dowlais Group plc. This article dives into how investments like these reflect the strategies of fund managers and the broader implications for stakeholders involved. Key Information about the Disclosure This public opening position disclosure reveals that...

Continue Reading
Key Insights from SCG's Recent Interim Financial Report

Updated Category News Views 199

Overview of Scandinavian Tobacco Group A/S Interim Report Scandinavian Tobacco Group A/S recently released an interim report detailing its financial performance for the period from April 1 to June 30. This document highlights crucial developments within the company and provides insights into its operational status. Financial Highlights The interim report showcases a...

Continue Reading
Sir Jony Ive's Revolutionary AI Device to Combat Tech Addiction

Updated Category News Views 227

Sir Jony Ive's Commitment to Better Technology Former Apple design chief Jony Ive expressed profound concern regarding the negative impact of technology, stating, "I still feel responsibility". His commitment is evident as OpenAI announced plans to acquire his hardware startup for $6.4 billion. This endeavor aims to develop an innovative AI device specifically designed to...

Continue Reading
Integra Resources Unveils New Leadership Team for Growth

Updated Category News Views 262

Integra Resources Announces New Leadership Team Integra Resources Corp. (TSXV: ITR; NYSE American: ITRG) has made significant leadership changes as it seeks to accelerate its path toward becoming a leading precious metals producer. The company has appointed George Salamis as its new President and Chief Executive Officer, taking the reins immediately. Alongside him, Anna...

Continue Reading