Baidu says completed around $155m fundraising for new video business

20 Apr, 2016 12:39 pm

BEIJING – Baidu Inc has completed raising around 1 billion yuan ($154.69 million) for a new video business subsidiary, it said in a posting on its microblog on Wednesday.

The subsidiary will comprise three Baidu units, including on-line video streaming service iQIYI, group-buying service Nuomi and Baidu’s video portal, it said. No further details were provided. -Reuters

Must Watch