Baidu’s IQiyi Video site Plans IPO Within The Next Three Years.
A site that is partially owned by Chinese internet giant Baidu, IQiyi has been recently set for an initial public offering in the next three years, according to recent various reports. The company, which is somewhat similar to that of Nextflix, rather than Google own offer of Youtube, is currently looking for ways to beat its competitor Youku Tudou in the country’s video industry.
According to the report, which is based off on information obtained from the company itself, IQiyi will go public nearing the end before 2017. The company’s CEO told the news outlets that he’s currently looking to have one of the biggest user and revenue shares within China by the time of that chosen date. Some 618 million people use the internet in China, and many of these people tend to spend their time looking for videos or television online.
According to the report, which is based on information from the company itself, IQiyi will go public in the before the end of 2017. The company’s CEO told the news outlet that he’s looking to have the biggest user and revenue share in China as of that date. Some 618 million people use the internet in China, and many of those spend their time looking for videos and television online.
Baidu has a controlling share of IQiyi and the company’s video platform has become a part of an competition between it and giant e-commerce Alibaba, who are a major investor in the country’s currently most popular video platform Youku Tudou.
IQiyi may be almost unpronounceable towards most Western languages, but the company’s number has spoken for themselves. According to the company its hit local shows like “iParliament”, and has had a cumulative success of 3 billion for its fourth season, while South Korea import “My Love From the Stars” has managed to gather a viewing of more than 2 billion. How these viewing numbers, where are massive even by Chinese standards, are likely to translate into revenue is currently difficult to say, as most of the Chinese web industry, including Baidu.