A couple words of caution: Baidu doesn’t speak for the Chinese government, and no one’s hinted that any sort of formal alliance exists between Baidu and Facebook. A high-ranking Baidu spokesperson has said he’d like to see Facebook operate in China, however.
It’s a pretty well-known fact that Baidu’s beaten Google in China, and all of Google’s efforts to reverse that fact haven’t accomplished much. Unfortunately for the company, those efforts also failed to hold off another rival, as a new report puts Alibaba ahead of Google in the online ad market.
Today is perhaps not a day on which a lot of investors will conduct spending sprees; the Dow’s down 1.10 percent right now, which isn’t at all encouraging. But Deutsche Bank has come to believe that investors almost definitely shouldn’t acquire shares of Baidu, downgrading the stock from "Buy" to "Hold."
The Chinese search company that is more or less the Google of its home market has sued another organization over its security software. Baidu said in its lawsuit that Qihoo 360’s Safe PC software unfairly identifies its toolbar and address bar as malware.
What with Google, Facebook, and other Web heavyweights seemingly getting drawn into courts on a weekly basis, it would make sense for Baidu to star in a lawsuit, and now the Chinese search giant will indeed become involved in another one. Only Baidu won’t have to defend itself, as the company will actually be suing its domain name registrar.
Baidu’s second quarter was in many (positive) respects a doozy. The company released its earnings report last night, and posted some very interesting numbers as it beat analysts’ estimates. One key stat: profits rose 118 percent on a year-over-year basis.
Chinese search giant Baidu may be in trouble. China Central Television (CCTV) – which is state-owned and easily the country’s largest broadcaster – has accused the company of allowing sites that deal in counterfeit drugs to buy ads.
Even as Google’s making concessions for the sake of staying in China, its chief rival there is in one sense branching out. Baidu announced today that it will hire some American engineers, and although that might not sound too remarkable, they’ll actually be the first people the company has hired straight from the U.S.
Baidu’s share of the Chinese search market is going to get much bigger quite soon, if the company has its way. An exec explained this morning that Baidu would like to see its share reach 79 percent next year.