, according to India’s Economic Daily reported that Baidu intends to hold India’s largest flagship discount electricity supplier platform Mydala.com.
reported two quoted informed sources as saying that Baidu said the acquisition of a majority stake in Mydala.com "will", the highest investment amounted to $100 million (about 630 million yuan), the two sides refused to comment on the investment issues.
reports, Mydala.com is one of India’s largest flagship Kinobeo Software operating sale discount merchandise business platform, is seeking a $150 million to $200 million valuation of financing, the company was founded 6 years the current shareholding structure of Info Edge company 44% stake and the remaining equity held by the company’s founder and most employees.
Mydala.com official website shows that the site provides services in 209 cities in India, settled in the size of more than 100 thousand merchants.
Baidu opened its office in India in January this year in Gurgaon. The company released four mobile related products in India, and in September, said it has 45 million monthly active users.