Alibaba, Yunfeng Take 16% Stake in Sogou

Sohu SEC Filing, 10/4/10

Sogou Inc., the Cayman Islands registered online search and browser subsidiary of Sohu (Nasdaq: SOHU), has entered into a USD 48 mln Series A preferred share purchase agreement with Alibaba Group, Yunfeng Fund investment vehicle China Web Search Limited, and Photon Group, the investment fund of Sohu chairman and CEO Charles Zhang. Alibaba, China Web Search and Photon will invest USD 15 mln, USD 9 mln and USD 24 mln respectively, in newly-issued shares of Sogou representing approximately 10%, 6% and 16% respectively of the outstanding share capital of Sogou on a fully-diluted basis. The agreement is between the three companies and Sogou's British Virgin Islands subsidiary Sogon (BVI) Limited, Sogou's Hong Kong subsidiary Sogou Hong Kong Limited, Sogou's People's Republic of China subsidiary Beijing Sogou Technology Development Co., Ltd., and Sogou's PRC variable interest entity Beijing Sogou Information Service Co., Ltd. Sohu will retain approximately 53% of Sogou on a fully-diluted basis.

Editor's Note: For more information on this topic, please see "Sohu, Alibaba to Establish Search JV," MD 8/09/10 issue.

Keywords: Yunfeng Fund Photon Group Charles Zhang Internet online search Sogou Sohu Alibaba Group investment

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily