Venture Houston 2018
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1 May 2018

Baidu spins out Du Xiaoman with $1.9bn

Baidu has divested a majority stake in its financial services unit, raising capital from investors including Taikang and ABC International.

Author: Thierry Heles, Reporter

China-based internet company Baidu spun out its financial services subsidiary, Du Xiaoman Financial, on Sunday with a $1.9bn commitment from investors including insurance provider Taikang and financial services firm ABC International.