Facebook has struck a deal with Baidu, the biggest Chinese search engine, to open a jointly-owned social network in China, according to reports in the Chinese press, citing inside sources.
More must-see stories
There had been reports of this in the Western press but it's the first tangible thing we've seen. Last year Facebook CEO Mark Zuckerberg traveled to China and met with Baidu CEO Robin Li.Business Insider: Tour Facebook's revolutionary new data center that it’s using to clobber Google
The deal makes sense for both sides. On Facebook's side, it needs a big local partner to break into the huge Chinese market. On Baidu's side, it is threatened by social network juggernaut Tencent, and it might be a safer bet to build a social network with one of the most successful social companies in the world than to try to build its own.
Copyright 2012 by Business Insider, Inc. All rights reserved. Reproduced with permission from Business Insider, Inc.