久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

  Home>News Center>China
       
 

Baidu shares more than quadruple in debut
(AP)
Updated: 2005-08-06 15:18

Baidu.com Inc., the maker of China's leading Internet search engine, mesmerized Wall Street Friday as its stock more than quadrupled — a dazzling debut driven by the company's connections to Google Inc. as much as its own tantalizing potential.


Shown in this photo released by Baidu.com is the company's 36-year-old co-founder and CEO Robin Yanhong Li. Baidu.com Inc, whose leadership of China's online search engine market has been inspiring exuberant comparisons to Google Inc., is expected to price its initial public offering of stock late Thursday Aug. 4, 2005. [AP]
The Beijing-based company's shares closed at $122.54 on the Nasdaq Stock Market, a 354 percent gain from its initial public offering price of $27. That represented the biggest one-day gain since the final days of the dot-com when IPOs regularly soared.

No IPO has climbed as high on the first day of trading as Baidu's did Friday since the shares of software maker Selectica Inc. soared 371 percent during their March 2000 debut, according to IPOhome.com. Selectica's shares closed unchanged Friday at $3.15 on the Nasdaq.

The rapid run-up gave Baidu a market value of $4 billion — a lofty appraisal of a 5 1/2 year-old company that only recently became profitable. Baidu earned $1.8 million on revenue of $13.6 million during the first half of this year.

The company's management expects much bigger things as more of China's vast population surf the Internet. More than 100 million of China's residents currently surf the Web. Baidu has been able to pluck enough visitors from that audience to emerge as the world's sixth-most trafficked Web site.

"I am very confident in the future of Internet search in China," Baidu Chairman Robin Li said during an interview Friday. "This is a very basic need for every consumer in China. We are very fortunate to be in this space."

Googlemania played a major role in Friday's buying frenzy.

As the early search-engine leader in China's nascent Internet market, Baidu is inspiring comparisons to Google Inc., which quickly evolved into a cultural and financial phenomenon by becoming the Web's leading guidepost.

Like Google, Baidu — traded under the ticker symbol BIDU — so far has made most of its money from text-based ads that are tied to search requests and generate a commission whenever the commercial links are clicked on.

Drawn by Baidu's potential, Google even paid $5 million last year for 749,625 of the company's shares — a stake worth $92 million Friday.

Google's early ownership interest has convinced some investors that it will eventually buy Baidu for a lucrative price, although there has been nothing concrete to support that belief.

Memories of Google's IPO may have provided Baidu with its biggest lift. Nearly a year ago, Google went public at $85 per share — a price that many investors viewed as inflated but now looks like a bargain with the company's shares closing at $292.35 Friday.

"This is a 'son-of-Google' investor mentality," said David Menlow, president of IPO Financial, an industry newsletter. "Everyone remembers they could have had Google at $85 and don't want to let it happen again."

Although Baidu's profits have been so puny so far, Menlow and another IPO expert, Linda Killian, said the rapid run-up in the company's stock isn't quite the same as the late 1990s mania that produced mind-boggling valuations for unproven dot-coms that imploded into dot-bombs.

As the Internet becomes more ingrained in the everyday lives of the Chinese, it's possible to envision Baidu duplicating the tremendous growth that Google has enjoyed, Killian said. Google's market value now hovers around $85 billion — something that would have seemed unfathomable when Stanford University graduate students Larry Page and Sergey Brin launched the company seven years ago.

"There are a handful of companies where you need to dream," said Killian, a portfolio manager for an investment fund specializing in IPOs. "You have to think, 'If everything were to go right for this company, what could they achieve?' There are companies that could become the next Microsoft or Google."

Baidu, pronounced "by-doo," is named after a 900-year-old love poem.

Li, who worked in Silicon Valley for a couple of years and received his master's degree in computer science from University of New York at Buffalo, formed the company with Eric Xu, who received a doctorate from Texas A&M.

Although Xu no longer works at Baidu, he was alongside Li Friday to watch the company's stock soar in its Wall Street debut. Li, 36, ended the day with a personal stake worth $920 million, but he said he won't let the sudden wealth affect him. He can't sell any of his stock for two years under restrictions imposed as part of the IPO.

"My passion is search and changing the lives of ordinary people with search," he said.

Baidu has awarded stock options to its 700 employees in China, giving them a slice of the wealth created by the IPO. Most of the workers can start holdings in six months. "We are going to try not to pay attention to the stock (price)," Li said. "As long as we do our job, the stock should take care of itself."

Baidu's IPO, completed late Thursday, raised $109.1 million — $86.6 million for the company, which sold 3.21 million American depositary shares, and the remainder for company insiders who sold 831,706 shares.

The company's biggest shareholder is Silicon Valley venture-capital firm Draper Fisher Jurvetson, whose stake is worth $1 billion.

While the Google mystique had a positive effect on Baidu Friday, the world's most popular search engine could turn into a formidable threat as it battles to become a bigger player in China. Yahoo Inc. (Nasdaq:YHOO - news) and Microsoft, the makers of the next two most popular search engines in the United States, also are eagerly anticipating China's Internet market.

"I don't believe money can buy the leadership position in China," Li said. "Our job is to solidify and expand from here. As long as we do that, we will be able to do well financially."



Horse racing in Inner Mongolia
Beer fountain in Harbin
Auto exhibition in Changchun
  Today's Top News     Top China News
 

1.24 million evacuated as Matsa approaches

 

   
 

Japan may hold off on UN reform

 

   
 

Seoul seeks new draft of joint document

 

   
 

Selective memory betrays Hiroshima victims

 

   
 

'Godfather' handed life sentence

 

   
 

Skies open to China's new jet set

 

   
  Baidu shares more than quadruple in debut
   
  Probe into China-made shoes
   
  'Godfather' handed life sentence
   
  SARS vaccine approved for human trials
   
  Seoul seeks new draft of joint document
   
  Social security fund to increase
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
Investors seek another Google in China's Baidu
   
Baidu to remove pirated music links -FT
   
Baidu eyes US listing
   
Google acquires sizeable stake in Baidu
   
Baidu, Beijing 3721 file court appeals
   
Baidu, Beijing 3721 file court appeals
   
Baidu grabs search engine market
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 国产亚洲欧美日韩在线观看一区二区 | 国产一区曰韩二区欧美三区 | 欧美黑人巨大最猛性xxxxx | 国内欧美一区二区三区 | 成人在线观看国产 | 一级高清毛片免费a级高清毛片 | 中文在线观看视频 | 欧美丰满大乳大屁股毛片 | 日韩欧美国产一区二区三区 | 99国产精品免费观看视频 | 草草久久97超级碰碰碰免费 | 国产看片一区二区三区 | 99国产精品九九视频免费看 | 毛片在线视频 | 免费观看欧美一级片 | 国产成人免费不卡在线观看 | 久久99精品久久久久久青青91 | 国产美女又黄又爽又色视频免费 | 日韩欧美视频一区二区 | 国产亚洲精品久久久久91网站 | 欧美成人免费高清视频 | 成年男女免费视频网站播放 | 97国内免费久久久久久久久久 | 亚洲黄色免费网址 | 高清国产美女一级毛片 | 高清一本之道加勒比在线 | 91日本在线精品高清观看 | 91精品免费看 | 欧美在线一区二区三区 | 香蕉成人国产精品免费看网站 | 国产成人午夜福在线观看 | 男人天堂网站在线 | 久久综合精品国产一区二区三区无 | 成人欧美一区二区三区在线观看 | 日本道综合一本久久久88 | 精品国产亚洲一区二区三区 | 青草青99久久99九九99九九九 | 欧美高清性色生活 | 国产伦久视频免费观看 视频 | 日韩一级黄色毛片 | 8000av在线 |