The online food ordering-and-delivery market, once very hot, appears to be cooling down a little in China. Today Baidu, the country’s search giant, announced an exit from the business: Baidu has sold its Xiaodu food delivery subsidiary (which operates under the Waimai brand) to Rajax, which operates Ele.me, China’s leading food delivery business that is valued at around $6 billion… Read More...
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Baidu sells food delivery business to its rival Ele.me
techcrunch.com