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Sohu set Sogou for IPO in US stock exchange

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Chinese search engine site, Sogou.com, will begin the initial public offering (IPO) process in the United States. Technology company headquartered in Beijing, Sohu.com (NASDAQ: SOHU), is preparing everything for Sogou Inc. to hold an IPO on the US Stock Exchange. China's second largest mobile search service provider hopes to double its power to compete Baidu.com.

Sohu set Sogou for IPO in US stock exchange

Sogou has taken steps to conduct an initial public offering in the United States to develop a variety of technologies including artificial intelligence (AI) and big data as a way to catch up with current Baidu market leader in the country's search engine business.

Sohu Inc as Sogou's parent company on Monday reportedly filed a registration to US Securities and Exchange Commission. Sogou CEO Wang Xiaochuan said in a statement the company is eyeing this year's IPO with valuation of US$5 billion.

"The internet search service is a highly competitive market and we have achieved a certain success in the current stage. The company will continue to invest in artificial intelligence and big data for competitive advantage," Xiaochuan said.

Sogou said AI technology will help users in China look for English content even if they can not read or type in English. Users only enter queries using Chinese and get English-language search results translated directly into Chinese.

The company claims the translation accuracy at 90 percent level and Sogou is the only company capable of competing and building an internet search business in China. Second-quarter revenue has risen 20 percent year-on-year to US$211 million.

The company claims the level of translation accuracy at 90 percent level and Sogou is the only company capable of competing and building an internet search business in China. Second-quarter revenue has risen 20 percent year-on-year to US$211 million.

Baidu is the top search engine operator in China, but in recent years has been getting competition by small players such as Sogou, Qihoo 360 Technology and Shenma supported Alibaba Group. Baidu has market share of 41.2 percent, Sogou 20.9 percent and Shenma 18.2 percent.

Sohu conducted an IPO in July 2000, while Sogou was founded on August 9, 2010 using search engine techniques based on the analysis and categorization of the most popular words or phrases on the Internet. Web application products are designed to classify information online, such as music, pictures, videos, news and maps.

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