Baidu’s strategic investment worth of 2.1 billion yuan in offline adverting

Baidu publicly confirmed their investment in Xinchao Media yesterday, in an attempt to expand elevator advertising business targeting middle-class consumers waiting in corridors. This has been interpreted as a fightback action followed by the Alibaba’s $1.5 billion investment in Focus Media, the main rival of Xinchao. Given the fact that online advertising is in decline, internet giants have started to move offline to attract new clients.