Baidu (BIDU) Eyes This Huge Emerging Market in New Expansion Plans...
Down)
Baidu (Nasdaq: BIDU) shares have reversed a decline during Thursday's pre-market session following reports of new expansion plans outside of its home market.
According to reports from ChinaDaily, Baidu is mulling entry into the South American market, specifically in Brazil. ChinaDaily, citing Brazilian media, said Brazil's Ministry of Commerce listed an item on its website saying Baidu could set up shop in Sao Paulo.
The new branch manager -- who went unnamed -- said Baidu is looking to compete more wholly with Google (Nasdaq: GOOG) in the South American country.
Initially the branch will be small, employing 20 at the start, but will seek to expand over the next six months or so, ChinaDaily noted.
This will be the largest expansion for Baidu since 2007, when it branched into Japan to offer its searching services. Despite its dominance in the Chinese market, Baidu is said to still rank only in the top 800 of Japanese websites when measured by traffic. Google sites are said to garner the second-largest amount of volume.
Shares last traded at $140, up about 1.2 percent from Wednesday's closing price.
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According to reports from ChinaDaily, Baidu is mulling entry into the South American market, specifically in Brazil. ChinaDaily, citing Brazilian media, said Brazil's Ministry of Commerce listed an item on its website saying Baidu could set up shop in Sao Paulo.
The new branch manager -- who went unnamed -- said Baidu is looking to compete more wholly with Google (Nasdaq: GOOG) in the South American country.
Initially the branch will be small, employing 20 at the start, but will seek to expand over the next six months or so, ChinaDaily noted.
This will be the largest expansion for Baidu since 2007, when it branched into Japan to offer its searching services. Despite its dominance in the Chinese market, Baidu is said to still rank only in the top 800 of Japanese websites when measured by traffic. Google sites are said to garner the second-largest amount of volume.
Shares last traded at $140, up about 1.2 percent from Wednesday's closing price.
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