Chinese Internet search engine company Baidu.com announced last week that it has started business adjustments concerning its Youa platform, and the consumer-to-consumer business of the platform will be closed in one month.
The company has published three reports about the adjustment, stating that Youa's various functions, including products, stores and transactions, will be fully closed in one month. It recommended that vendors can transfer their businesses to Baidu.com's cooperative partners like Rakuten.com.cn and Yaodian100.com. Baidu.com said that online retail stores verified by Youa that enter Rakuten.com.cn can gain an exemption of the CNY10,000 deposit. In addition, these stores will enjoy free real-time technical services.
Baidu.com launched the Youa platform on October 28, 2008, focusing on the C2C e-commerce business. On October 29, 2010, the Youa platform expanded into the lifestyle information sector, providing local-oriented marriage, maternal, family service, training, sports, and entertainment information to users.
In addition, on January 27, 2010, Baidu.com teamed with the Japanese e-commerce operator Rakuten in the founding of a joint venture, aiming to establish a comprehensive B2C online shopping website in the Chinese market.
