This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

CRIC And Baidu Announce Expanded Strategic Cooperation

Stocks in this article: BIDU CRIC

SHANGHAI, June 21, 2011 /PRNewswire-Asia-FirstCall/ -- China Real Estate Information Corporation ("CRIC" or the "Company") (NASDAQ: CRIC), a leading provider of real estate information, consulting and online services in China, and Baidu, Inc. (NASDAQ: BIDU), the leading Chinese language Internet search provider, announced today that they have entered into a new strategic partnership agreement.

Under the agreement, CRIC will become Baidu's premier strategic online real estate partner and will have the exclusive right to sell Baidu's real estate brandlink product, which is one form of keyword advertising, during the next three years. In addition, the two companies will continue their previous cooperation in several other Baidu products, including Baidu Website Promotion, Baidu Encyclopedia, Baidu Knows and Baidu Map, to further expand the online search-based advertising market for the real estate industry.

The new agreement expands the agreements previously entered in 2010. In February of 2010, the two companies signed cooperation agreements for a series of Baidu web products. Further, in May of 2010, CRIC obtained the exclusive right to build and operate Baidu's online real estate channels for the following four years. Starting in August of 2010, CRIC successfully built and launched the Baidu Leju new home, secondary home and home renting channels. CRIC will continue launching additional online real estate related channels on www.baidu.com, including the Baidu Leju home furnishing channel, under the 2010 agreements.

Xin Zhou, CRIC's co-chairman and chief executive officer, said, "Partnering with Baidu in online real estate search and advertising is an important strategic decision. Through this new agreement with Baidu, CRIC enhances the strength of its search-based online products. Combined with CRIC's already strong portal-based online products, this uniquely positions CRIC to provide quick, comprehensive real estate information and a multi-dimensional web experience for hundreds of millions of internet users in China, while further strengthening our leading position in the online real estate services business."

Mr. Zhou added, "Over the past year, Baidu Leju has become an important information source for tens of millions of internet users who are interested in the Chinese real estate market. Baidu Leju's current model has been well recognized and received by more than a thousand real estate developers. Through the expanded agreement with Baidu, CRIC is now able to provide more comprehensive sets of online products to real estate clients and further enhance users' web search experience for real estate information."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs