Baidu and China Telecom (ticker: CHA) combine for local search. Google-backed, and IPO-bound, Internet search company, Baidu.com, announced it will partner with fixed-line telecom carrier China Telecom. Baidu will combine its search technology with China Telecom's
yellow pages resources to offer local search services in over 30 Chinese cities.
Sohu (ticker: SOHU) acquires online mapping firm. Chinese portal and e-commerce company, Sohu.com, announced acquisition of Go2Map, an online mapping service provider in
China. The acquisition will allow Sohu to apply Go2Map's technological
expertise in professional location-based information to Sohu's search engine
capabilities. Go2Map's mapping platform can be accessed using the Internet and through mobile phones. Its database covers points of interest in 200
cities across China, and provides web users a free on-line mapping system for 14
cities. The acquisition enhances Sohu's local search capabilities, content offerings, and online advertising opportunities. Sohu will pay $9.3 million in cash. An
additional amount, not to exceed $2.5 million, will be paid over 2 years
after the closing of the acquisition, subject to attainment of certain milestones.
- Netease (ticker: NTES) focusing on online advertising and online content. Chinese Internet and online gaming company, Netease, plans to focus more on generating online advertising revenue this year. In 2004, the company generated a mere 18% of revenue from online advertising, relative to 66% of revenue from online games. The company will also continue expanding its online content offerings. It recently announced launch of an online sports channel with Chinese sports brand, Lining, partnered with China Finance Online (ticker: JRJC) to strengthen its online financial content, and joined with Soufun.com to enhance its property information offerings.