A JV between Baidu (BIDU) and Japanese e-commerce giant Rakuten (RKUNF.PK) that sought to ...
A JV between Baidu (BIDU) and Japanese e-commerce giant Rakuten (RKUNF.PK) that sought to challenge Alibaba (ALBCF.PK) and 360buy's Chinese e-commerce dominance has officially ended. Launched in 2010 to high hopes, the JV, called Lekutian, was plagued by payment-collection issues, tough price competition, and Rakuten's struggles to adapt to Chinese consumer preferences.
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