Contributed by NAMPA / AFP.
US IPO for Baidu video unit as Q4 net income flattens
Shanghai, Feb 14, 2018 (AFP) - Chinese search engine giant Baidu will spin off its Netflix-like video arm iQiyi and list it in the US market, the company said in a statement that revealed its net profit grew only one percent during the fourth quarter.
The company said it has submitted a draft registration to the US securities regulator, the SEC, for a proposed initial public offering of iQiyi, without giving further details.
The news se ...