BEIJING, Feb 26, 2010 /PRNewswire via COMTEX
Baidu, Inc. shmack shoes (Nasdaq: BIDU), the leading Chinese language Internet search provider, today announced that Baidu and Providence ed hardy outlet Equity Partners ("Providence") have signed an agreement pursuant to which Providence will invest $50 million in Baidu's new LED christmas light online video company to develop an advertising supported online video business auto ac compressor providing premium licensed content in China. Baidu will continue to maintain majority ownership in the company. The new online video inflatable life raft company has registered http://www.qiyi.com as its domain name.
(Logo: http://www.newscom.com/cgi-bin/prnh/20081103/BAIDULOGO )
The online video market has great potential for growth in China," said Mr. reading glasses frame Robin Li, Chief Executive Officer of Baidu, Inc. "Providence is our ideal partner in this space as it has rich experience in investing money counter in and managing businesses that distribute licensed content online. With Baidu's strong ability to drive traffic and offer innovative products that suit Golf clubs user needs, we are very excited about the future prospects of this new company."
"We are very pleased COACH OUTLET to partner with Baidu and are confident that this new venture will become an industry leader," said Jonathan Nelson, Chief Executive Officer of Providence. "As the world's largest Chinese language internet search company and also the tag heuer replica WATCHES dominant video search engine in China, Baidu has unmatched competitive advantages in its user base and traffic. The Jordan High Heel shoes new venture will provide users with a first-class viewing experience, and will work with regulators to ensure the lawful distribution of professionally produced media and entertainment content on the internet." About Baidu
Baidu, Inc. is the leading Chinese language Internet search globe valve provider. As a technology-based media company, Baidu aims to provide the best way for people to find information. In addition to serving a bathing ape individual Internet search users, Baidu wholesale football jerseys provides an effective platform for businesses to reach potential customers. Baidu's ADSs, each clothing shirts of which represents one Class A ordinary share, are currently trading on the NASDAQ Global Select Market under the symbol "BIDU."
About Providence Equity Partners Providence 3G WIFI ROUTER Equity Partners is the leading global private equity firm specializing in equity investments in media, entertainment, communications Abercrombie and Fitch and information christian louboutin sale services companies around the world.
The principals of Providence manage funds with over $22 billion in equity commitments cheap purses and have invested in more than 100 companies operating in over 20 countries since the firm's inception in 1989. Significant existing and prior investments include Bresnan Broadband Holdings, Casema, Com Hem, Digiturk, Education Management Women boots Corporation, eircom, Hulu, Idea Cellular, Kabel Deutschland,NexTag, Ono, PanAmSat, ProSiebenSat.1, Recoletos cheap handbags, TDC, Univision, VoiceStream leather belts Wireless, Warner Music Group, Western Wireless safety valve and Yankees Entertainment & Sports Network. Providence is headquartered in Providence, RI (USA) and has offices in New York, London, Los Angeles, Hong Kong and New Delhi. Visit http://www.provequity.com for hose crimping machine more information.