According to the newest report from CNZZ, Baidu continued to dominate the share of country’s search engine market. In August, its share dipped by 1.10% while chief rival Qihoo continued to inch upwards, chalking up 18.23 percent, up nearly one percent on its July figures. Sohu’s Sogou and Tencent’s Soso search engines maintained Third and fourth rank completing a $448 …
Baidu Revenues Down In Q2 Results, Will Continue Its Acquisiton Drive
Sales figures of Chinese search giant Baidu came along today reflecting a 4.5 percent YoY decrease in net profit to RMB2.64 billion ($430.8 million) for Q2, 2013, while revenue has increased about 38.6 percent to RMB7.56 billion ($1.23 billion) compared to same period. In this quarter company added 58,000 new customers facing intense market competition mainly the newbie Qihoo which …
Cloudary Withdraws Its US IPO
Cloudary, the Chinese online literature platform from Shanada group recently withdrew their two-year-old US IPO offering citing “market conditions”. This decision from company comes just after they raised $110 million in a deal which supposedly valued the company 25 percent lower previous investments. Cloudary founded in 2004, was a limited club member of China’s top Internet companies listed on US …
Baidu Buys PPS Online Video Business For $370 million
After the long rumours spanning through weeks, finally Baidu Inc., the owner of China’s largest search engine declared that it is going to buy the PPS Net TV’s internet video business for a sum of $370 million. iQiyi.com has been the other recent acquisition of the company, and it is going to merge the two services to make it the …