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Qiyi Users Reached 150 Mln as of March 2011

Sina Tech, 5/27/11

Yuan Bin, president of Chinese internet company Baidu's (Nasdaq: BIDU) joint-venture online video site, Qiyi, revealed at the 2011 CHINICT Forum in Beijing today that after a year of operation, Qiyi's users had reached 150 mln in March 2011, and the company will continue its expansion into mobile video market.

Yuan reiterated that the company was planning a public listing, however he did not reveal a specific time or location. Yuan added that the company is currently exploring the "pay-by-customer" premium content fee model, but he did not reveal any specific figures.

Editor's Note: For more information on this topic, please see "Qiyi Releases Premium Online Video Service," MD 3/18/11 issue.

Keywords: business model CHINICT Internet users online video mobile video Baidu BIDU Qiyi Yuan Bin IPO JV premium programming

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