Baidu, China’s Google and an Uber trader, has ongoing its coverage of spinning off promising organization units. Following the spin-off of its student Q&A app Zuoyebang past September, Baidu Online video has gone independent this week and raised RMB one billion ($one hundred fifty five million) in cash.
The funding round for the company, which claims 300 million monthly viewers, including Baidu and investors Shanghai New Tradition Media Team, Tianshen Xmas, Softbank Asia Infrastructure Fund and Redpoint Ventures.
“Baidu Online video aims to grow to be the selection one professional created content material online video platform in China. [Baidu Online video] will target on platform development and proceed to provide our audiences with online video lookup and content material aggregation companies,” a spokesperson advised TechCrunch.
Baidu Video’s move to independence comes though Alibaba is in the system of finalizing its $three.five billion acquisition of Youku Tudou, the company driving two of China’s most popular on the web online video companies. Formed from a billion merger among Youku and Tudou, each of which proceed to work as separate sites, study indicates that Youku Tudou has a narrow lead over others in the online video house, but there is loads of level of competition implementing force.
Baidu Online video aside, Baidu also owns iQiyi, which it plans to make private in a offer that could be worth up to $two.eight billion. Then there is the bold LeEco (previously LeTV) which started out in online video streaming but has branched out into phones, athletics and even electric autos through a partnership with Faraday Potential. Generating Baidu Online video independent eliminates the drag of a cash intense organization from Baidu’s funds and allows the company act like a extra nimble startup that can raise capital and draw on encounter from third-party investors that it wouldn’t interact with as a Baidu organization device. In idea, at the very least.