The strategic Investor's group buys the website glutinous rice net 160 million US dollars

Before Chen had shouted "a battle and three battles" slogan, one of the fighting is the glutinous rice network to do the first group buying industry. Chen will glutinous rice network positioning as "high quality group purchase site", but due to huge investment and loss, sticky rice network for several quarters of the overall financial performance of the net. Coupled with the United States, the public comments and other players strong competition, Chen a boat to buy the first dream is particularly difficult to seek strategic cooperation is not without losing the best choice.

To this end, Chen said, "group buying business in China has great potential." Especially in the mobile internet era, this business model will continue to flourish. Baidu's strategic investment will further enhance the sticky rice network industry status, and create a huge synergy, which makes us all feel excited. We look forward to the continuous and rapid development of glutinous rice network and its value to shareholders. ”

On the other hand, Baidu has been looking for a breakthrough in the field of electricity quotient and O2O. Previously, Robin Li has said that the four major strategies for Baidu's future are traditional search, mobile cloud, lbs and internationalization strategy. The recent acquisition of 91 wireless, release "Light Application" and a series of actions, highlighting the mobile end of the ambition. The purchase of glutinous rice NET can and lbs strategy form synergy. Baidu chief financial Officer Jennifer said, "glutinous rice network covering many cities sales team and the cumulative user base, will help Baidu better for businesses to build localized lbs platform."

According to Renren's 2013 Q1 earnings show, the glutinous rice net contributed 5.1 million U.S. dollars net operating income, a significant increase of 102%. In the second quarter of 2013, the total turnover of glutinous rice net amounted to about 120 million U.S. dollars, of which about 30% came from mobile terminals, with active paying subscribers reaching 3.8 million.