|Bid||224.00 x 100|
|Ask||224.08 x 100|
|Day's Range||222.77 - 225.44|
|52 Week Range||159.54 - 233.37|
|PE Ratio (TTM)||48.96|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
In a bid to prioritize Artificial Intelligence as its growth driver, Baidu, Inc. (BIDU) plans to sell its non-profitable takeout delivery unit, Waimai to Ele.me.
Baidu is selling its takeout delivery business to Ele.me, a rival backed by Alibaba. The deal will help the Chinese search-engine giant stop sinking money into a costly business that hasn’t paid off.
China's largest internet companies are in a battle to claim the country's lucrative digital-streaming market. Which one is likely to come out ahead, and what will it mean for investors?