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Excerpt from ca.style.yahoo.com
BEIJING (Reuters) – Search engine Baidu Inc will invest in taxi-hailing app maker Uber Technologies Inc, a person familiar with the matter said on Friday, becoming the latest Chinese Internet firm to take an interest in the flourishing market for transportation apps. The size of Baidu’s investment – and its valuation of Uber – are unknown, but the Chinese firm has scheduled a press conference to announce an investment into an unnamed U.S.-based startup on Dec. 17 in Beijing.
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