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Qiyi to Reach Profitability in Q4 2012

Shanghai Evening Post, 12/17/10

Gong Yu, CEO of Chinese internet company Baidu's (Nasdaq: BIDU) joint-venture online video site Qiyi, predicted today that the site should become profitable by Q4 2012, becoming profitable for the entirety of 2013 with operating revenues of RMB 300 to 500 mln for the year.

Volkswagen recently partnered with Qiyi to place ads for its Jetta Sagitar cars in Qiyi's iPad client.

Keywords: profit video advertising online advertising Gong Yu Internet online video Baidu Volkswagen BIDU Qiyi revenue

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