Chongqing Commercial, 2/11/10
Chinese internet company Baidu's (Nasdaq: BIDU) new video company will offer the ability to search for movies by lines of dialogue.
Baidu Video has opened offices in Chongqing and Chengdu. A spokesperson for Baidu Video's west China operations said the video sharing site had received investment from Baidu and Providence Equity Partners, with Baidu holding a controlling share. CEO Gong Yu is also a shareholder.
Editor's Note: For more background on this topic, please see "Baidu Announces New Online Video Firm" MD 1/06/10 issue.