Google Invests in Baidu.com

  |  June 15, 2004   |  Comments

Google buys a minority stake in a Chinese-language search firm.

Google has acquired a minority stake in Baidu.com, a Chinese-language search firm, expanding the U.S. search giant's reach overseas.

Google, which filed for an approximately $2.7 billionpublic offering in April, purchased a minority interest in the Chinese search engine. The investment was first reported last week.

Google would not disclose how much money was raised or other details of the investment. Baidu is China's biggest independent Internet search engine and has been one of Google's strongest rivals in China, according to media reports.

In the S-1 statement for Google's initial public offering, the firm noted, "Expansion into international markets is important to our long-term success, and our inexperience in the operation of our business outside the U.S. increases the risk that our international expansion efforts will not be successful."

Kevin Lee, CEO of search engine marketing firm Did-it.com, said of the investment, "I think it's a forward-thinking move on Google's part because they recognize that China and the Asian market are going to be an up-and-coming market. If there's already a brand that is relevant for that marketplace they can still hedge their bets while they build their own Chinese portal as well as having a stake in another branded portal."

A Google representative confirmed the investment but otherwise declined to comment.

ClickZ Live Toronto On the heels of a fantastic event in New York City, ClickZ Live is taking the fun and learning to Toronto, June 23-25. With over 15 years' experience delivering industry-leading events, ClickZ Live offers an action-packed, educationally-focused agenda covering all aspects of digital marketing. Register today!

ABOUT THE AUTHOR

Janis Mara

COMMENTSCommenting policy

comments powered by Disqus

ClickZ Today is our #1 newsletter.
Get a daily dose of digital marketing.

COMMENTS

UPCOMING EVENTS

UPCOMING TRAINING

Featured White Papers

Gartner Magic Quadrant for Digital Commerce

Gartner Magic Quadrant for Digital Commerce
This Magic Quadrant examines leading digital commerce platforms that enable organizations to build digital commerce sites. These commerce platforms facilitate purchasing transactions over the Web, and support the creation and continuing development of an online relationship with a consumer.

Paid Search in the Mobile Era

Paid Search in the Mobile Era
Google reports that paid search ads are currently driving 40+ million calls per month. Cost per click is increasing, paid search budgets are growing, and mobile continues to dominate. It's time to revamp old search strategies, reimagine stale best practices, and add new layers data to your analytics.

Jobs