Baidu Joins $30M Series B Round In Bolome

Shanghai-based cross-border e-commerce platform Bolome has completed US$30 million series B round of financing from Baidu Inc., LB Investment, Chengwei Ventures and other investors, according to Chinese media reports.

Founded in February, the eight-month-old start-up has raised US$43 million in total, and is currently valued at US$200 million, says the reports.

Baidu is investing as a strategic investor, and plans to incorporate Bolome’s e-commerce offerings with its search services.

Bolome focuses on retailing products from overseas markets including Japan and South Korea directly to Chinese consumers at competitive prices.

In September, Baidu led a US$150 million series D round of financing in Beijing-based maternity and baby products flash sales platform, which has a similar focus on selling overseas products to Chinese consumers.

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Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at CMN. Before founding CMN in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, writing about business and financial services. While in New York, she also served as part-time correspondent for Shanghai's financial television channel, China Business Network, as well as China Radio International, China's national English-language radio network.