China’s search giant Baidu has sold its O2O platform Nuomi to its US-listed video-streaming unit iQiyi for US$200 million to consolidate the latter’s online ticketing business, according to local news service tech.qq. Nuomi, founded in 2010 as a group buying site turned comprehensive lifestyle O2O platform, used to play an important role in Baidu’s ambition for O2O businesses, as Baidu founder Robin Li said in 2015 that his company plans to spend RMB 20 billion (approx. US$3.1 billion) on Nuomi.
After the world’s biggest O2O platform Meituan-Dianping had formed through a merger in 2015, Nuomi has been losing ground in the competition. Baidu had also sold its other O2O units, including its food delivery service Baidu Waimai to rival Ele.me last year, and has shifted to an all-in AI strategy.
Source: 36Kr