technology news (Ming Xuan) October 19th Beijing time news, according to foreign media reports, the Japanese e-commerce company Le Tian (Rakuten) announced on Tuesday that the company set up a joint venture with Baidu’s online shopping mall "cool" music has launched today. With Baidu to Lotte to the field of electronic commerce in the rapid growth of the China slice.
CEO Miki Tanihiroshi (Hiroshi Mikitani) said at a news conference in Tokyo, Lotte will provide e-commerce experience to "cool" music; as Chinese leading Internet search business, Baidu is able to bring traffic to "cool" music. Baidu CEO Robin Li said that more than 60% of Chinese Internet users use search engines to find shopping information. Statistics of the market research company Analysys International, Baidu in the second quarter accounted for 70% of the search market revenue China.
Miki Tanihiroshi said, Lotte and Baidu will be in the next three years to cool days to invest $50 million. Music cool days, currently has about 2000 registered businesses, including some well-known local brands. Through cooperation with Baidu, Lotte and China popular e-commerce site taobao.com competition. According to Analysys International Statistics, the second quarter of this year, taobao.com parent company Alibaba group currently owns the total market China e-commerce 75%. Baidu had previously entered the e-commerce market through the C2C platform ah.
executives said, considering the huge growth potential of Chinese e-commerce market, e-commerce company is still huge room for growth in Chinese. Lotte has this year in the United States and Europe market acquisitions, and has been in 6 overseas markets to establish a partnership. Miki Tanihiroshi’s long-term goal, is to let Lotte can enter more than and 20 overseas markets.
Chinese will play a key role in the Lotte ambition, because Chinese network industry is still in the growth. At present, the number of Internet users in China still accounts for only about 30% of the total population, while e-commerce users account for only about 1/3 of Internet users. Miki Tanihiroshi also said on Tuesday that the cool days in revenue is expected to surpass Japan Lotte website in the near future. Japan Lotte website total transactions last year of about 800 billion yen ($10 billion).
and Baidu announced in January this year will set up a joint venture in China e-commerce website. Lotte will occupy 51% of the joint venture, Baidu will hold the remaining shares.