Crowdfund Insider reported:
Chinese search behemoth Baidu Inc, (NASDAQ:BIDU) has nabbed a $1.9 billion investment from firms including TPG, the Carlyle Group, Agricultural Bank of China Ltd. and Taikang Group, to ready itself to compete in the financial-services space, according to the WSJ. The transaction will reportedly value the unit at $4B, one investor told FT.
Carlyle and company will use big data analytics, artificial intelligence and target wealth management through this deal. Next up for Du Xiaoman Financial? It's bound to be a crypto-currency. That might enable a quicker flip for the China PEU consortium.
