Rumor: Qihoo 360, Baidu Eye Investment in Xunlei
Southern Metropolitan News, 10/26/12
Industry speculation on October 25 held that Chinese online security software and search platform provider Qihoo 360 (NYSE: QIHU) and internet company Baidu (Nasdaq: BIDU) are girding themselves for battle over the opportunity to invest in and develop exclusive strategic partnerships with P2P video service provider, download accelerator software developer, and online game operator Xunlei. Xunlei CEO Sean Zou denied that the company was seeking to bring on new strategic partners, but said that if it were to do so, it would be as part of preparations for an IPO.
Zou said that Xunlei would bring in strategic technical investors as part of IPO preparations. Zou noted that Xunlei had brought Chinese Internet firm Sohu (Nasdaq: SOHU) on board as part of its earlier IPO application.
Xunlei received USD 50 mln in third-round funding led by Primavera Capital Group in March 2012, Zou said. Xunlei has already received all Q2 funding in full.
When asked when Xunlei would restart its IPO plans, Zou said that the company was continuing to watch for signs of a revivified market.
Editor's Note: For more information on this topic, please see "Xunlei Withdraws Nasdaq IPO Registration," MD 10/13/11 and "Xunlei Prepares for Second IPO Attempt," MD 1/12/12 issues.
Keywords: Internet IPO investment Xunlei Baidu BIDU Qihoo 360 QIHU online search Sean Zou
Sending
