China’s Yihaodian.com, Baidu Form Strategic Partnership
Chinese B2C e-commerce website Yihaodian.com and Chinese search engine Baidu have reached an agreement for business cooperation.
Based on the cooperation, the two parties will implement in-depth cooperation in resource sharing, big data applications, advertising, wireless e-commerce, and marketing model innovation throughout 2013. They will also explore new cooperating patterns on various user platforms of Baidu.
Yu Gang, chief executive officer of Yihaodian.com, revealed that in 2012, Yihaodian.com’s sales increased by 250% compared with the previous year, and its sales of imported food increased by 407%. At the beginning of 2013, the company gained the license for direct procurement of imported products, making it the first e-commerce operator that obtained this license in China. In the future, they will continue to focus on imported food business while expanding into the fresh food sector. The deal with Baidu will expand its marketing abilities.
Prior to the cooperation with Yihaodian.com, Baidu has formed similar relationships with Procter & Gamble and Ping An Insurance.
Financial terms of this new marketing deal have not been released by either party.