China's leading internet companies such as Baidu, Alibaba, and Tencent, a.k.a. BAT, also compete in the investment. In 2018, companies received around 2.6 billion yuan investment from Baidu, over 12.7 billion yuan from Tencent, and near 40 billion yuan from Alibaba.
The 2.1 billion yuan ($302 million) strategic round in Xinchao Media, an elevator advertising firm, was Baidu's biggest investment in this field.
Tencent joined US$2.5 billion round for WPP and co-led the US$1.9 billion ser...
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