An employee of Baidu wearing a face mask uses his phone at the company's headquarters in Beijing, following the novel coronavirus disease (Covid-19) outbreak, China. Baidu has historically put less emphasis on livestreaming, and so lags behind its competitors in the sector. It hopes to make up for lost time by using data from its search engine to better target consumers. — Reuters
LOS ANGELES: Chinese tech giant Baidu will invest US$70.3mil (RM305.86mil) into the livestreaming sector, the company said, as it looks to take on rivals Douyin, China's version of Tiktok, and Kuaishou in that space.
The news comes as these three players jostle for dominance amidst a series of tit-for-tat lawsuits, and as Baidu on May 18 announced better-than-expected revenue for the March quarter, causing its US-listed shares to rise 8% in extended trading.
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