Baidu (百度)
Fast facts
- Year Founded
- 2000
Source: Baidu Website ir.baidu.com/company-overview
- HQ Location
- Beijing, China
- Publicly Traded?
- Yes
Source: NASDAQ Website www.nasdaq.com/market-activity/stocks/bidu
- Overseas Operations
- Yes
Baidu, currently holding 1.33% of the global search engine market, has branches in 7 overseas areas: Japan, U.S. (Sunnyvale, CA), Korea, Singapore, India, Indonesia, and Thailand. Two of its subsidiaries, Baidu Holdings Limited and iQIYI Inc, are registered in British Virgin Islands and Cayman Islands, respectively.Source: Baidu Baike, Baidu 2019 Annual Report baike.baidu.com/item/百度/6699Source: www.sec.gov/ix
- US Sanctions
- No
Source: The White House Press Briefing www.whitehouse.gov/briefings-statements/remarks-president-trump-press-briefing-august-15-2020/
- Military Affiliation in China
- No
Baidu was nearly included in the US Communist Chinese Military Companies (CCMC) Sanctions list in January 2021 for alleged ties to China's military. Despite pressure from the Pentagon and State Department, then Treasury Secretary Mnuchin managed to keep Baidu off the list.Source: Financial Times www.ft.com/content/46505ee0-fb3d-4cf0-a3df-64e9661e839f
Revenue
Source: Baidu 2019 Annual Report www.sec.gov/ix
Valuation
Valuation is reported as enterprise value. It was last updated on November 11, 2021.Source: Yahoo Finance finance.yahoo.com/quote/BIDU/key-statistics
Employees
Source: Baidu Baike baike.baidu.com/item/百度/6699
Founded in 2000 by Robin Li and Eric Xu in a Beijing hotel room, Baidu (meaning “hundreds of times” or “hundred degrees,” taken from a famous Song dynasty poem) took advantage of the nascent ad revenue model early on to quickly become the leading search engine in China.
In 2005, Baidu listed on NASDAQ and in December 2007 became the first Chinese company to be included in the NASDAQ-100 Index. After developing an artificial intelligence unit (“Baidu Brain”) in 2010, Baidu has gone from a search engine to “an AI company with strong internet foundations.” Baidu provides the full AI stack – AI chips, deep learning framework, and all core AI capabilities. With nearly a billion devices accessing Baidu monthly, it has established a firm leadership position in the Chinese market (78%) and succeeded in fending off global search engine powerhouses Google, Yahoo, and Bing.
In addition to search, Baidu offers a whole suite of apps and other features including maps, news, video, anti-virus software, internet TV, and even autonomous driving vehicles. After a falling stock price and loss of top talent had investors worried about Baidu, it has become clear that the company is staking its future success on the value of AI.
Source: Baidu Website home.baidu.com/home/index/companySource: NASDAQ Website www.nasdaq.com/market-activity/stocks/biduSource: SEC Baidu 2019 Annual Report www.sec.gov/ixSource: BBC www.bbc.com/news/technology-53998205Source: The White House Press Briefing www.whitehouse.gov/briefings-statements/remarks-president-trump-press-briefing-august-15-2020/
Baidu China is 100% held by Baidu Hong Kong and Baidu Hong Kong is 100% held by British-Virgin-Island-registered company Baidu Holdings Limited. Handsome Reward Limited is a British Virgin Islands company wholly owned and controlled by Mr. Robin Yanhong Li. The Bank of New York Mellon is the depositary of Baidu's American Depositary Share program and holds approximately 78.3% of Baidu's total outstanding shares, or 51.76% of all shares.
Source: Qichacha www.qcc.com/firm/644f2f8965a750c40892b30fdd909b19.htmlSource: Baidu 2020 Annual Report www.qcc.com/firm/hac37b9e2692266286bf7a79d94c1ff5.htmlSource: ir.baidu.com/static-files/175cb0a9-9c28-424a-9af0-fdb1cccbfc97
-
- Name
- Ownership
-
- Li Robin Yanhong
Source: Baidu 2020 Annual Report ir.baidu.com/static-files/175cb0a9-9c28-424a-9af0-fdb1cccbfc97
- 17.00%
- Li Robin Yanhong
-
- Handsome Reward Limited
Source: Baidu 2020 Annual Report ir.baidu.com/static-files/175cb0a9-9c28-424a-9af0-fdb1cccbfc97
- 16.80%
- Handsome Reward Limited
-
- The Bank of New York Mellon
Source: Baidu 2020 Annual Report ir.baidu.com/static-files/175cb0a9-9c28-424a-9af0-fdb1cccbfc97
- 51.76%
- The Bank of New York Mellon
- Board of Directors Li Robin Yanhong (李彦宏), Co-Founder, Chairman and Chief Executive Officer
- Ding James (丁健), Independent Director
- Yang Yuanqing (杨元庆), Independent Director
- Brent Callinicos, Independent Director
- Foo Jixun (符绩勋, Independent Director Senior Management Yu Herman (余正均), Chief Financial Officer
- Wang Haifeng (王海峰), Chief Technology Officer
- Shen Dou (沈抖), Executive Vice President
- Liang Victor (梁志祥), Senior Vice President
- Cui Shanshan (崔珊珊), Senior Vice President
Source: Baidu Website ir.baidu.com/corporate-governance/board-of-directorsSource: home.baidu.com/home/index/management_team
Baidu, currently holding 1.33% of the global search engine market, has branches in 7 overseas areas: Japan, U.S. (Sunnyvale, CA), Korea, Singapore, India, Indonesia, and Thailand. Two of its subsidiaries, Baidu Holdings Limited and iQIYI Inc, are registered in British Virgin Islands and Cayman Islands, respectively.
Source: Baidu Baike, Baidu 2019 Annual Report baike.baidu.com/item/百度/6699Source: www.sec.gov/ix
Baidu Sanctions
While at this time it appears that this company is not the subject of any U.S. or other global sanctions, it is important to note that Chinese companies tend to have more opaque organizational structures than their Western peers. Chinese companies' affiliated brands, operating units, and overseas subsidiaries are not always obvious or even identifiable. Given this, a Chinese company may not be the subject of sanctions, but one of its subsidiaries may be, thus making it difficult to accurately ascertain a company's full sanctions status.
When asked "Which other Chinese tech companies are you looking at banning from operating in the United States," such as Baidu, Trump answered:"We’re looking at other things. Yes, we are. We are," according to the White House press briefing on August 15, 2020.
Source: The White House Press Briefing www.whitehouse.gov/briefings-statements/remarks-president-trump-press-briefing-august-15-2020/
Baidu Reputational Disclosures
- In March 2021, Baidu was fined 500,000 RMB ($77,000) over 2014 acquisition of Ainemo Inc. (electronics manufacturer) in warning against investment deals that exclude government approval
- Baidu’s P4P search results reportedly caused the death of Wei Zexi who tried an experimental cancer therapy he found online.
- Baidu sold the hemophilia online community, one of the communities of Tieba, to unqualified hospitals.
- Baidu was banned in India in 2020.
Source: 1. S&P Global 2. People's Daily www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/baidu-tencent-softbank-face-fines-over-alleged-deal-violations-8211-bloomberg-63147113 http://en.people.cn/n3/2016/0502/c90000-9052118.htmlSource: 3. China Daily www.chinadaily.com.cn/business/2016-01/12/content_23052646.htmSource: 4. BBC www.bbc.com/news/technology-53998205
The latest news on Baidu from SupChina
Baidu woke up early but was late to market — phrase of the week
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In this year’s consumer’s day name-and-shame gala, facial recognition startups and job-seeking sites are accused of data privacy breach, web browsers and phone cleanser apps alleged of fake advertising.
Will China’s government-controlled cloud rain on fintech innovation?
The Chinese government has demonstrated a willingness to innovate in the financial services technology sector. For example, the People's Bank of China (PBOC) has announced accelerated plans for a central bank digital currency (CBDC), and filed scores of CBDC patents (paywall), while private sector fintech initiatives like Baidu’s Xuperchain network have been introduced to great fanfare. What's more, the PBOC's Fintech Development Plan 2019–2021 (in Chinese) expresses support for technological innovation, including the use of cloud storage for financial data such as payments.
The latest news on Baidu from across the web
百度回应自动驾驶裁员传闻：谣言很多 内部没听到这样的消息
Baidu has denied reports of mass layoffs at its autonomous driving division, calling them “rumors.” (Video streamer iQiyi, of which Baidu owns 56.2%, did fire hundreds of staff earlier this week.)
China Fines Alibaba, Tencent in Latest Antitrust Investigation
Just another day in antitrust enforcement: “Alibaba, Tencent, and Baidu are the target of another round of antitrust fines on Saturday [November 20] totaling 21.5 million yuan ($3.4 million),” per Bloomberg via Caixin. Other big names in China tech such as JD.com, ByteDance, and Meituan were also “fined 500,000 yuan ($78,000) for each violation” of antitrust law, TechNode reports. Caixin notes that the “first salvo since the appointment of Gān Lín 甘霖 as the head of the country’s anti-monopoly bureau” was met mostly with a shrug by markets.
China's Baidu to dispatch robotaxis in 100 cities by 2030
Baidu will dispatch its driverless taxi service to 100 cities by 2030, CEO Robin Lǐ Yànhóng 李彦宏 announced.
China Tells Internet Companies to Stop Blocking Links From Rivals
Tencent, Alibaba, ByteDance and other technology companies were called to a meeting with Chinese officials last week, as Beijing seeks to end a practice that has become common in the past few years.
Baidu and ON Semiconductor Team Up With Eye on Image Sensors for Self-Driving Cars
Baidu and ON Semiconductor Team Up With Eye on Image Sensors for Self-Driving Cars-
China Tech Selloff Resumes, Adding to Month of Huge Losses
Investors are reeling from drastic moves against the after-school tutoring sector, one in a series of government salvos.
In Depth: Searched-Out Baidu Bets on Cloud, Autonomous Driving
Company’s shares rallied after its latest quarterly results showed some of its new initiatives may be starting to bear fruit, though progress has been slow
Baidu files updated documents for second listing in Hong Kong
Baidu (BIDU)has submitted updated listing documents with the Hong Kong stock exchange
U.S. Counterfeit Blacklist Sees Return of Baidu, Debut of WeChat Retail Partner
Latest edition of U.S. Trade Representative’s ‘Notorious Markets’ list also includes repeat appearances by Pinduoduo and Alibaba’s Taobao
Roads to Nowhere Cost Baidu $10 Million in Mapping Dispute
Court rules search engine giant used another company’s digital maps’ without permission
Baidu Hopes $3.6 Billion Livestreaming Deal Will Boost Its Stagnant Revenue
Takeover gives search giant access to 4.1 million paying users as it struggles against upstarts like TikTok-maker ByteDance
Baidu Takes Aim at ByteDance, Tencent With Internal Video Merger
Search giant combines Haokan and Quanmin to get bigger share of $19.3 billion market
Baidu CEO Talks Up ‘Smart Transport’ as Search Giant Continues to Bank on Self-Driving Cars
Robin Li predicts efficiency gains from AI innovations will drive economic growth for years to come
Mapping China's Tech Giants | Australian Strategic Policy Institute
Chinese technology companies are becoming increasingly important and dynamic actors on the world stage, but their growing influence also brings a range of strategic considerations.
Baidu Removes 1.1 Billion Problematic Ads as Regulators Clamp Down
Chinese authorities have been pushing internet companies to crack down on inappropriate content
Baidu’s Management Reshuffle Taps Young Blood After First Quarterly Loss in 15 Years
Tech giant promotes smart devices unit head to vice president after company begins losing money
Baidu in Hot Water After Hospital Mix-Up
Company’s advertising strategy under fire for promoting deceptively named private facility
Baidu's EV firm Jidu hires ex-Cadillac designer
Jidu Auto, a smart electric vehicle venture between China's tech giant Baidu Inc (9888.HK) and Chinese automaker Geely (GEELY.UL), said it has hired Frank Wu, formerly at Cadillac, to lead its design studio.
Chinese lidar maker Hesai lands $300M led by Hillhouse, Xiaomi, Meituan
The rush to back lidar companies continues as more automakers and robotaxi startups include the remote sensing method in their vehicles. Latest to the investment boom is Hesai, a Shanghai-based lidar maker founded in 2014 with an office in Palo Alto. The company just raised over $300 million in a Series D funding round led […]
Alibaba, Baidu and Tencent learn Netflix lessons in content fight
Original shows help China's long-form video platforms win back viewers from apps
China says ByteDance, Baidu, Microsoft improperly collected user data
China's internet watchdog said on Friday that companies including ByteDance, Baidu (9888.HK) and Kuaishou (1024.HK) had improperly collected user data.
Baidu starts offering paid robotaxi service in Beijing on May 2
Baidu, Inc. will open fully driverless robotaxi services to the public in Beijing starting from May 2, 2021, which will be China’s first paid autonomous vehicle service where users can hail a robotaxi without a safety driver behind the steering wheel, marking a landmark step on the road to commercialization of autonomous driving. The fully driverless Apollo Go Robotaxi service will first be launched in Beijing’s Shougang Park – one of the venues for the 2022 Beijing Winter Olympics – and will soon be transporting visitors at the games. With the ride-hailing service being launched during the bustling Labor Day
China orders fintech companies to stick to the rules as clampdown widens
The country's platform economy has grown rapidly and covers whole range of e-commerce activities ranging from banking to shopping and food delivery.
Baidu will charge for robotaxis in Beijing, the first in China to do so
Baidu will allow people to order autonomous taxis on May 2 in an industrial park in western Beijing as competition heats up in the race to develop autonomous driving tech.
How ByteDance Could Take a Bite Out of Tencent
Tiktok owner ByteDance has already laid former rivals like Baidu and Weibo low. Tencent could be next.
EXCLUSIVE Baidu’s Jidu Auto to invest $7.7 bln in ‘robot’ smart cars
Jidu Auto, an electric vehicle venture between China's tech giant Baidu and Chinese automaker Geely, aims to plough 50 billion yuan ($7.7 billion) into producing smart cars over the next five years, its chief executive told Reuters.
China’s Xinjiang Solar Factories Haunted by Labor Abuse Claims
The world’s solar power surge depends on polysilicon from Xinjiang factories.
Chinese tech giant Baidu to raise $3.1 billion in Hong Kong listing
Baidu has priced its shares at 252 Hong Kong dollars ($32.45) each which will raise the company around $3.1 billion.
Baidu’s AI chip unit Kunlun completes new funding, at $2 billion valuation: source
Chinese search giant Baidu Inc said on Monday that its artificial intelligence chip unit Kunlun recently completed a round of fundraising, which according to one source with direct knowledge of the matter values the business at about $2 billion.
China’s Baidu Aims to Raise $3 Billion in Hong Kong Share Sale
The operator of China’s largest search engine intends to sell 95 million new shares, planning to list on the Hong Kong stock exchange on March 23.
Baidu wins USD 16.1 million bid to upgrade roads for autonomous driving in Chengdu | KrASIA
Baidu Apollo has won a bid to build a 5G intelligent driving project in Chengdu, in southwest China's Sichuan province, in a tender worth RMB 105 million (USD 16.1 million), the internet giant said in a press release on Thursday.
China's Baidu to sell around 4% of shares in HK listing: sources
Chinese search engine giant Baidu Inc will launch its Hong Kong secondary listing on Friday and will sell around 4% of its shares, which at current price will raise at least $3 billion, two sources with direct knowledge of the matter told Reuters.
Baidu honors the CCP on Women's Day
Chinese search engine Baidu, like its global rival Google, celebrates major holidays with special doodles. On March 8 — which is International Women's Day and also the meeting of China's National People's Congress and its National Committee of the Chinese People's Political Consultative Conference —...
TikTok sister app Douyin to boost investment in search service
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Baidu reports solid profits, expects first EV within 3 years | KrASIA
The takeover of YY Live has been "substantially completed."
Chinese apps ban: TikTok, WeChat, Baidu and UC Browser among 59 Chinese apps permanently banned in India | India Business News - Times of India
India Business News: In a sweeping move that may lead to legal challenges and further acrimony between India and China in the digital space, the government has permanently
Alibaba, Tencent and Baidu spared from US investor blacklist
Treasury secretary sees off China hawks in dispute over whether to ban investment in tech groups
WSJ News Exclusive | Americans Won’t Be Banned From Investing in Alibaba, Tencent and Baidu
Alibaba, Baidu, and Tencent were among a dozen companies being examined for inclusion in a Defense Department list of firms deemed to support China’s military, intelligence and security services.
China's Baidu to create an intelligent EV company with automaker Geely
China's search engine giant Baidu Inc said on Monday it will set up a company to partner with car maker Zhejiang Geely Holding Group to make smart electric vehicles (EV), the latest move by a tech company in the fast-evolving sector.
Baidu set to announce EV venture with automaker Geely, report says
The announcement may come as soon as next week.
Baidu picks CLSA, Goldman for secondary listing in Hong Kong
Baidu joins a wave of US-listed Chinese firms in seeking a trading foothold in Hong Kong amid simmering tensions between the world’s two biggest economies. Companies from JD.com to NetEase raised about US$17 billion through share sales in Hong Kong last year, according to Bloomberg’s data.
Baidu plans smart EV company, to make cars at Geely plant: Report
China's Baidu plans to form a company to make smart electric vehicles (EV), two sources familiar with the matter said, with manufacturing to be ...
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Federal officials have discussed expanding a blacklist of companies off limits to U.S. investments over concerns about ties to Chinese authorities.
Exclusive-China search giant Baidu considers making own electric vehicles -sources
China's Baidu Inc is considering making its own electric vehicles and has held talks with automakers about the possibility, three people with knowledge of the matter said, the latest move in a race among tech firms to develop smart cars.
JD Health shares close 56% higher on their market debut in Hong Kong
JD Health shares rallied throughout the day, hitting an intra-day high of 123.3 Hong Kong dollars — or as high as 75% from the offer price.
Baidu revenue beats estimates; to buy JOYY's China live-streaming unit
Chinese search engine leader Baidu Inc booked a 1% rise in quarterly revenue, beating market estimates, and said it will buy streaming platform YY Live from social media firm JOYY Inc for about $3.6 billion to help diversify revenue sources.
Baidu nears $4 billion deal to nab Joyy's China unit · TechNode
Search giant Baidu is near a deal to acquire US-listed Chinese video-streaming platform Joyy's China operations in order to boost its livestream business.
Baidu fundraising puts $3bn value on smart device business
Chinese search leader enlists IDG and CITIC arm as investors
Baidu-backed online tutor Zuoyebang seeks new funding at $10 billion valuation: sources
Chinese online education startup Zuoyebang has started a new fundraising drive at a valuation of $10 billion, said two people with direct knowledge of the matter, as investor appetite for the sector continues to surge amid the COVID-19 pandemic.
More than 100,000 riders have used Baidu robotaxis · TechNode
Accelerating passenger numbers for the Baidu self-driving pilot underscore China’s growing efforts to win the global autonomous vehicle race.
Exclusive: Baidu, investors in talks to raise $2 billion for biotech startup - source
Chinese tech giant Baidu is in talks with investors to raise up to $2 billion over three years for a biotech startup, which will use AI technology to discover new drugs and diagnose diseases, a person with direct knowledge of the matter said.
Chinese Netflix-style service iQiyi tanks by 18% after U.S. regulators investigate fraud allegations
The SEC investigation was prompted by a report from Wolfpack Research in April in which it accused iQiyi of fraud and inflating revenue and user numbers.
India widens China app ban to Baidu and Weibo · TechNode
Chinese search engine Baidu Search and social media platform Weibo were blocked by internet service providers and removed from app stores in India.
Baidu Breaks Off an AI Alliance Amid Strained US-China Ties
The search giant was the only Chinese member of the Partnership on Artificial Intelligence, a US-led effort to foster collaboration on ethical issues.
As Chinese listings 'migrate' from U.S. to Hong Kong, it could attract more than $500 billion to the city
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Cloudflare partners with JD to expand its network in China – TechCrunch
Cloudflare today announced a new partnership with JD Cloud & AI that will see the company expand its network in Chinato an additional 150 data centers. Currently, Cloudflare is available in 17 data centers in mainland China, thanks to a long-standing partnership with Baidu, but this new deal is obviously significantly larger. CloudFlare’s original partnership […]
Chinese giants Huawei and Tencent join national group on blockchain after Xi's backing for the tech
China's national committee aims to set the standards for blockchain as it hopes to become a world leader in the nascent space.
Chinese e-commerce giant takes aim at rival leader Alibaba in cloud as China market heats up
JD.com, a major Chinese e-commerce company, is looking to become the technology platform of choice for U.S. customers in a cloud computing market dominated by Alibaba.
Baidu is building everything Chongqing needs for self-driving cars · TechNode
China’s biggest internet search company Baidu has won a bid to build public road infrastructure for self-driving cars in southwestern Chongqing
China will ship more smart speakers in 2020 despite coronavirus disruption
Alibaba, Baidu and Xiaomi lead China’s rapidly growing smart speaker market
Baidu releases open-source tool to detect faces without masks · TechNode
Inspections in China for those without masks have largely been manual, making identifying non-mask wearers in crowds difficult.
Baidu eyeing secondary Hong Kong listing: report · TechNode
China's largest search engine may be considering a listing on the Hong Kong exchange, following Alibaba's November blockbuster offering.
Baidu Launches Xiaodu Smart Display X8 with Revamped Features for Enriching Home Life
BEIJING, Dec. 12, 2019 (GLOBE NEWSWIRE) -- Baidu, Inc. (NASDAQ: BIDU) on Thursday unveiled the Xiaodu Smart Display X8, customized for the evolving needs...
3 Ways Baidu Plans to Make a Comeback in China | The Motley Fool
The tech giant is on the ropes, but it still has plenty of ways to punch back.
China tech stocks are 'screaming buys,' Invesco's Kristina Hooper says
Invesco's Kristina Hooper believes China tech companies have been unfairly punished by the trade war.
TikTok's owner had $7 billion in revenue for the first half of the year
China's ByteDance, owner of video-sharing app TikTok, booked revenue of $7 billion to $8.4 billion in a better-than-expected result for the first half, people familiar with the matter told Reuters.
China's Baidu rolls out self-driving cars for public trial
There will still be a human operator onboard, but Baidu says these autonomous cars are Level 4.
EU officials draft radical plan to take on US and Chinese tech giants
In addition to Google, Apple, Amazon, Microsoft and Facebook, leaked document lists Baidu, Alibaba and Tencent as firms Europe needs to rival.
Baidu, China’s Private-Sector Bellwether, Reports 62% Profit Drop
China’s economic downturn helped drive search-engine giant Baidu to its weakest quarterly revenue growth in more than two years and a 62% profit drop, with the company warning its bread-and-butter advertising business will remain under pressure.
