Ever heard of this webpage called Baidu? Once a popular music search and download page in China that was facing heavy lawsuit. It’s China’s largest search engine, and is so popular in China that 99-percent of China’s users use Baidu. With a $40 billion market cap, the stock price of the company doubled in January of 2010, and is still going strong despite ups and downs of the stock market. Its net value is possibly on par with Facebook and eBay, and at several times outperformed Google in China, something that very few companies can claim.
Robin Li, CEO of Baidu, has been welcoming competition in China, the country where almighty Google has failed to penetrate this vast goldmine due to censorship issues. Baidu is not the only search engine company in China though, as there’s Tencent, Sougu, 78land, and so many more. Let’s also not forget the extremely popular QQ application, which is China’s version of Facebook and Live Messenger, a program you must know if you’re interested in PRC ladies and Chinese cars. Search engine is not Baidu’s only service too, as there’s the Baidu Notes, where 100 million questions posted there have been answered by Chinese users thus far. Baidu is also in research of a “box computing” where devices will turn on in split seconds and immediately accessible, unlike current devices where you have to wait for at least 20-seconds or so for the operating system to load, and another few seconds for the services to register.
Robin Li, Baidu’s CEO, is on stage with journalist John Battelle at Web 2.0 Summit in San Francisco, speaking about Baidu’s rapid growth, Google’s recent decision to leave China and the differences between the Chinese market and the U.S. market.
via mashable
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