Baidu invests RMB 2.1 bln in Xinchao media
Nov 14, 2018 (China Knowledge) - Baidu has announced, today, that it has invested RMB 2.1 billion in the Xinchao media. ChinaRenaissance is the exclusive financial adviser to this transaction.
After the establishment of strategic partnership between the two companies, the huge community offline smart terminals of Xinchao media will be deeply integrated with Baidu’s online data to provide more accurate media flow solutions for enterprises and brands. At the same time, Baidu will use big data algorithms and artificial intelligence (AI) to empower the new offline media, and jointly build the "AI + elevator media" offline media convergence flow platform.
With the coming of the IoT and 5G era, every carrier of offline media will be digitalized and linked to the Internet. In April 2018, Xinchao media signed a strategic agreement with China Mobile, Huawei and XDJA respectively to jointly build Chinese life circle networking traffic laboratory. In August 2018, it released bee intelligent delivery systems (BITS), through big data + Ai technology, providing a one-stop service for advertiser.
At present, Xinchao media has been deployed in over 100 cities nationwide, with nearly 700 thousand elevators. The strategic cooperation with Baidu will enhance its confidence to provide more accurate and more cost-effective community media flow for customers.
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