China’s Baidu sells off takeout delivery to Alibaba


China’s largest search engine company, Baidu, another rival to Tencent, China’s largest Internet company is selling off its takeout delivery business to Alibaba-backed

According to the Wall Street Journal who cited people with the knowledge of the matter.

It is expected that the cash-and-stock deal will help Chinese search-engine giant stop sinking money into a costly business that hasn’t paid off.

The deal is said to be announced later this week, however, Baidu has not made a formal statement on the deal, neither has the company denied the reports.

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