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 billion public 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 notes, "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 Chicago Learn Digital Marketing Insights From Leading Brands!
ClickZ Live Chicago (Nov 3-6) will deliver over 50 sessions across 4 days and 10 individual tracks, including Data-Driven Marketing, Social, Mobile, Display, Search and Email. Check out the full agenda, or register and attend one of the best ClickZ events yet!

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

Google My Business Listings Demystified

Google My Business Listings Demystified
To help brands control how they appear online, Google has developed a new offering: Google My Business Locations. This whitepaper helps marketers understand how to use this powerful new tool.

5 Ways to Personalize Beyond the Subject Line

5 Ways to Personalize Beyond the Subject Line
82 percent of shoppers say they would buy more items from a brand if the emails they sent were more personalized. This white paper offer five tactics that will personalize your email beyond the subject line and drive real business growth.

WEBINARS

Resources

Jobs