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Baidu Building Up For IPO?
June 21, 2004 |
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Baidu, considered one of the most popular search companies in China, completed a round of financing earlier this week from eight venture capitalists, and appears to be building itself up for an eventual IPO.
Baidu received funding from Draper Fisher Jurvetson ePlanet Ventures and Google. Additional participants in the financing were current investors Integrity Partners and Peninsula Capital, as well as new investors Bridger Management, China Equity, China Value and Venture TDF. Baidu reportedly raised $100 million, with Google investing $10 million.
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