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Rumor: Baidu invests in Uber

12/12/2014| 11:48:08 AM|

Chinese internet company Baidu (Nasdaq: BIDU) will announce a new strategic investment on December 17. The rumored target of Baidu's investment will be San Francisco-based car booking app Uber.

According to an industry source, Chinese internet company Baidu (Nasdaq: BIDU) will announce a new strategic investment on December 17. The rumored target of Baidu's investment will be San Francisco-based car booking app Uber. Further details of the investment were not available.

According to the source, Baidu will make a strategic investment of no more than USD 600 mln. Uber landed USD 1.2 bln in funding in early December.

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TAGS: Baidu | Uber | investment
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