Rumor: Baidu to Enter Online Literature Market

Sina Tech, 3/11/10

According to an executive at one publishing house, Chinese Internet firm Baidu (Nasdaq: BIDU) plans to establish an independent e-book company. Baidu will reportedly adopt the same model used in establishing its independent video company Qiyi, attracting VC funding with plans for a listing in the future. Baidu VP Ren Xuyang has also had frequent recent meetings with publishing executives in a search for the new company's CEO. Baidu's business department has already begun discussions and survey research with each major publishing house, according to the source, and expects the new e-book platform to license a wide array of content. Baidu has revealed in the discussions that it will establish a content-rich online literature platform.

Baidu has not commented on the rumors.

Keywords: Ren Xuyang Internet Baidu e-book online literature BIDU

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily