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Baidu spins off its financial business and launches a new brand “Small Full” with over US$1.9 billion in financing

via:博客园     time:2018/4/29 14:33:57     readed:880


In the evening of the evening, Baidu announced that its financial services group officially completed the split financing agreement. After the split, the new company will launch a new brand of "Little Full" to achieve independent operations. Zhu Guang, the senior vice president of Baidu and the general manager of the financial services group, will serve as the CEO of Du Xiaoman Financial.

The financial round of financing of the small-scale full degree exceeded 1.9 billion US dollars, led by TPG, Carlyle Investment Group, Taikang Group, Agricultural Finance International and other follow-up investment. After financing, Xiaoman Financial will continue to increase its investment in technology, open up more platforms and technological capabilities, and increase financial ecological construction.

"Under Baidu AI's ecological strategy, we are very pleased to see that financial business has taken the lead in graduating & rsquo;. "Li Baihong, chairman and CEO of Baidu, said that this is another milestone in the Baidu AI ecosystem following the listing of iQiyi. Under the backdrop of the era of innovation, the financial business has continuously broken through and has grown into a unicorn in this field. Baidu's AI capability empowerment, continuous deepening of financial scenarios, technologies, and models, and its reliance on ecology have demonstrated the strategic and collaborative capabilities of Baidu's AI ecosystem and new businesses. ”

Mr. Zhu Guang, a small full financial CEO, said: "In the era of smart finance, we will give full play to Baidu's AI advantage and technical strength, work with financial institutions partners, and use technology to provide trusted financial services for more people."

The Baidu Financial Services Group was established in December 2015. With the unique advantages of financial technology and the vision of openness, empowerment, and inclusiveness, the Bank completed the establishment of a credit and wealth management platform, fully empowering financial institutions, and rapidly growing into a financial institution. Unicorn in the field of internet finance.

After the independence of the small-scale finance, its strategic layout will be more flexible. Baidu will, as always, closely cooperate with Xiaodu Finance in multiple dimensions such as technology, platform, and resources. Under the core strategy of “restoring the mobile foundation and winning the AI ​​era”, Baidu will also incubate more independent businesses with huge market space and strong synergy with Baidu.

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