Sohu Focus to Open Secondhand Housing Group

DoNews, 11/12/10

Chinese internet company Sohu (Nasdaq: SOHU) announced today that Sohu Focus, its real estate site, would establish a Sohu Secondhand Housing Group.

Sohu said that the Secondhand Housing Group would be the result of Sohu Focus' full acquisition of Sansixing Media, which already has a mature second-hand housing data service and operations team, as well as access to the databases and operations experience of nearly 150,000 agents. Sohu Focus and Sansixing had previously worked together five years under a traditional agency model.

Sohu said it would invest RMB 100 mln in cash into the new Sohu Secondhand Housing Group, and would offer advertising resources worth RMB 300 mln through its own advertising platform. The new company will integrate its channels, resources, content, operations, and promotional efforts with Sohu.

Zeng Fuhu, GM of Sohu Focus, said that former Sansixing chairman Wu Si would serve as CEO and president of the new group.

Keywords: Sansixing Media Wu Si Zeng Fuhu Internet Sohu online real estate investment M&A Sohu Focus

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