Word: baidu
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...would no longer censor Google.cn may have given a thrill to human-rights activists the world over, but a lot of investors were - and remain - furious. Since posting the announcement on its website on Jan. 12, Google's stock price has declined from $595 to about $567, while Baidu, the leading search engine in China, has seen its stock price rise by 50%. (See pictures of life in the Googleplex...
...China staff. (Google China declined to comment.) Neither has much of a presence in search, with less than 1% of the market each. But the two companies were investing significantly in search even before Google's ultimatum in January, and are now obviously even more determined to take on Baidu...
...China's booming instant-messaging business. According to estimates by Analysys International, nearly 70% of China's 400 million Internet users use instant-messaging, and of those, 80% use Tencent's system, known as QQ. That's the major reason that Tencent's market capitalization is bigger than Baidu's, and an insider at the company acknowledges that search "is very much" a target of opportunity...
...tapping into overseas markets, the University has also looked beyond exchange traded funds—which are traded like stocks and track major indices—and has directly purchased shares of foreign companies such as Tata Motors, an Indian car manufacturer, and Baidu, a Chinese search engine...
...Baidu's flaws would mean more if Google were sticking around. If it's not, Baidu will have the world's most populous country almost to itself. And that won't be a good thing for anybody. "The lack of a strong second player may unmotivate Baidu to improve" is how JPMorgan's Wei puts it. The company has gone from a Silicon Valley start-up, in a field that didn't then exist in China, to a nimble competitor that was challenged by the global king - and won. The risk that one day it could turn into a hoary...