Welcome!

News Feed Item

Wanda Group Joins Forces with Baidu and Tencent to Establish World's Biggest O2O E-commerce Company

SHENZHEN, China, Aug. 29, 2014 /PRNewswire/ -- Wanda Group, Baidu and Tencent announced today at a signing ceremony held in Shenzhen, that they will establish the "Wanda E-commerce Company", a Hong Kong registered joint venture. The JV will invest initial capital of RMB 5 billion (US$814 million), with Wanda Group holding 70% equity, while Baidu and Tencent each own a 15% stake respectively.

Wanda Group Chairman Wang Jianlin, Baidu, Inc. Chairman and Chief Executive Officer Robin Li and Tencent, Inc. Chairman of the board and Chief Executive Officer Pony Ma attended the signing ceremony.

Wanda Group is a global leader in real estate, as well as China's largest cultural enterprise and the world's largest cinema operator. The company expects to attract over 1.5 billion customers to its Wanda Plazas, hotels and resorts in 2014, solidifying its position as China's largest offline commerce platform. Wanda conservatively estimates that its properties will draw in over 5 billion consumers annually by 2020, making it the world's largest offline commerce platform.

As China's largest search engine, Baidu possesses world leading technical capabilities and the most extensive big data resources. Baidu is China's largest internet portal, as well as the largest distribution platform for applications and services, with over 6 billion relevant search requests per day and over 10 billion monthly mean daily PVs for its location based services.

Tencent's range of online products has the largest user base and highest activity in China. As of June 30, monthly active users on Tencent's QQ instant messaging service reached 829 million, while its mobile social platform WeChat exceeded 438 million active users.

Wanda, Baidu and Tencent are all leaders in their respective industries, which will allow them to combine their respective strengths by integrating corresponding products to create a world leading O2O e-commerce business model.

Wanda, Baidu and Tencent will cooperate closely together in developing payment and e-commerce financial products, building a universal customer loyalty program, big data integration, Wi-Fi sharing, and product integration.

The integration of online and offline business is an inevitable trend in the development of the e-commerce industry, said Wanda E-commerce Company CEO Dong Ce. The tie-up with the two IT giants will elevate Wanda Group, who owns the world's most abundant offline commercial resources, to become the world's largest O2O platform, according to Dong.

Wanda E-commerce will launch e-commerce services in all 107 Wanda Plazas, including those yet to open this year, by the end of this year. By 2015, all Wanda's plazas, hotels and resorts will be equipped with e-commerce services, said Dong, predicting that Wanda e-commerce membership will exceed 40 million this year and is expected to increase to over 100 million by next year.

Wanda E-commerce will also seek to develop a series of innovative online financial products through direct collaboration with Wanda's financial arm.

Dong revealed that Wanda E-commerce Company has registered a very "cool" new name for the joint venture, which will be announced on the day of its official launch.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...