Baidu Video to Focus on Search, Eyes Acquisitions
Sina Tech, 1/06/10
Gong Yu, CEO of Baidu's (Nasdaq: BIDU) new video company, has said that Baidu Video expects video search to become an important component in Baidu's search services in the future. Baidu Movie will also end its relationship with online video operator UiTV and become part of the newly established company.
Gong also said that Baidu has not ruled out the possibility of acquisitions for rapid expansion, but currently does not have any definite acquisition targets. Gong added that the new company would not provide user-generated content (UGC) or user-shared content, making video-sharing sites unlikely targets for acquisition.
Gong said that the new company will chiefly focus on entertainment, not political news.
Editor's Note: Gong added that the new company is not a department of Baidu, and will enjoy relatively independent operation. Gong said that a public listing is one of the new company's long-term goals, but that the company may not necessarily list on the Nasdaq, and that a timetable for an IPO and profitability have not yet been set.
Keywords: Gong Yu Internet IPO online video UiTV video search Baidu M&A BIDU Baidu Movie
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