Google invests in Chinese search engine
16 June 2004
Google is among the companies investing in Chinese search firm Baidu.com.
Other new investors include venture capital firm Draper Fisher Jurvetson ePlanet Ventures, Bridger Management, China Equity, China Value, and Venture TDF.
Fresh money has also been injected into Baidu by present investors Integrity Partners and Peninsula Capital.
Google's new investment increases its presence in the Chinese market, following its launch of the advertising product Adwords in two Chinese dialects.
Beijing-based Baidu, launched in 2001, is the most frequently used search engine in China, according to the company.
China's already thriving internet market of 80 million users is projected to jump to 100 million by the end of the year, according to China Internet Network Information Centre.
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