Chinese Internet giant Baidu Inc agreed to purchase a stake in Uber as the online car-hailing service seeks to gain ground on rivals with powerful backers in one of the world's biggest transportation markets.The companies didn't disclose how big a stake Baidu is taking, nor how much it is paying for the investment in the taxi app operator.The deal was announced jointly in Beijing by executives including Uber Chief Executive Travis Kalanick, making his first public appearance since a rape case involving a driver in India that resulted in New Delhi government ban on Uber.Baidu is the latest big-name investor, joining the likes of Goldman Sachs and Google Inc, to place a bet on the fast-growing transportation company, now valued at a hefty $40 billion. Uber's aggressive growth has been accompany by negative publicity over some of its business practices and bans in some countries.
Baidu, Inc. (Baidu) is a Chinese-language Internet search provider. Shares of BIDU fell by 2.59% or $-5.85/share to $219.96. In the past year, the shares have traded as low as $140.66 and as high as $251.99. On average, 3667670 shares of BIDU exchange hands on a given day and today's volume is recorded at 3996120.
Google Inc. (Google) is a global technology company. Shares of GOOG fell by 3.58% or $-18.41/share to $495.39. In the past year, the shares have traded as low as $489.00 and as high as $604.83. On average, 1930220 shares of GOOG exchange hands on a given day and today's volume is recorded at 3953371.
Google Inc. (Google) is a global technology company. Shares of GOOGL fell by 3.43% or $-17.68/share to $498.16. In the past year, the shares have traded as low as $497.19 and as high as $615.06. On average, 2074430 shares of GOOGL exchange hands on a given day and today's volume is recorded at 4349882.
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