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Reuters: Baidu eyes 2018 U.S. IPO for streamer iQiyi

Published 09/26/2017, 09:17 AM
© Reuters.  Reuters: Baidu eyes 2018 U.S. IPO for streamer iQiyi
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  • Baidu (NASDAQ:BIDU) is looking at floating a potential U.S. initial public offering for iQiyi -- a "Chinese Netflix (NASDAQ:NFLX)" -- as soon as next year, according to Reuters.
  • It would seek a valuation of $8B-$10B, still a fraction of the size of $77B Netflix.
  • The streaming service had 481M monthly active users at the end of last year, and earlier this year said it raised $1.53B in new funds to take on rivals in Tencent (OTCPK:TCEHY) and Youku Tudou (NYSE:BABA).
  • Premarket: BIDU +1.1%; BABA +0.6%.
  • Now read: Dominant Tencent Is Poised To Benefit From China's Growing Music Market


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