Two companies to open a jointly-owned social network in China. 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.
These sources said the new venture wouldn’t involve Facebook.com, which is blocked inside China like many more social networking sites, but a jointly owned, new social networking website. It’s unclear when the site could launch: joint ventures need to be approved by the Chinese government and that can take a while, and they have to staff it up with experienced executives that both sides can agree on.
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.