Rumor: Baidu to Pursue Online Video, Sets Sights on Youku

Sina Tech, 12/23/09

A venture capital investor has revealed that Chinese internet company Baidu (Nasdaq: BIDU) is preparing to deepen its involvement in the online video arena, but the source did not reveal any further detail.

Baidu vice-president Ren Xuyang, who is in charge of investments and purchasing, said there would not be any comment issued regarding this news.

Editor's Note: Further rumors have subsequently emerged that Baidu plans to acquire Chinese online video provider Youku for a price of USD 200 mln, to which Ren Xuyang said he could make no comment. A source at Youku denied the rumor, saying it would not sell out so soon after receiving its new round of funding.

Keywords: Ren Xuyang Internet online video Baidu BIDU Youku

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