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Tuesday, August 02, 2005

Baidu goes public

"Chinese search engine Baidu.com Inc., which counts Google Inc. as an investor, plans to list its shares on the Nasdaq stock market this Thursday in its initial public offering (IPO)."

This is good news for investors of Google, and for the Chinese Internet industry. Baidu, however, apparently faces financial challenges, since their revenue is still very low with US$13.4 million in 2004, despite the fact that they are one of the most heavily used search engines in China.

(By Asia Business Consulting)

posted by Andreas @ 7:43 am