Monday, August 01, 2005

Baidu IPO - Fact Sheet on the Chinese Search Leader

BAIDU.COM, INC. (Ticker Symbol: BIDU)

Headquarter: Beijing
12/F, Ideal International Plaza, 58 North Fourth Ring West, Haidian
District 100080
Tel: (86-10)8262-1188
Fax: (86-10)8260-7007/9
Company Web Site (English): Baidu

Officers:
Chief Executive Officer (Co-founder): Robin Li
Chief Strategy Officer (Co-founder): Eric Xu
Chief Operating Officer: David Zhu

Headcount:
Total number of employees: 750

Financial Data:
Q1, 2005:
Net income $303,000
Net revenues $5.2 million
Cash and equivalents: $23.5 million (Balance sheet as of 03-31, 2005)

Q2, 2005: ("preliminary unaudited financial results")
Net income US$1.5 million (+ 384.0%)
Total revenues approx. US$8.4 million (+52.5%)

Total net revenues 2004: $13.4 million
For more financial details read the
SEC form F-1 IPO registration statement.

Traffic statistics:
Global Traffic Rank for baidu.com: 6 (Source: Alexa.com)
Second most visited website and most visited search engine in China in 2004 (Source: iResearch/Alexa.com)

IPO Details:
Ticker Symbol: BIDU
Date: (correction!) expected: Friday 2005-08-05
Underwriters: Goldman Sachs, Credit Suisse First Boston, Piper Jaffray & Co.
Initial public offering price: between US$19.00 and US$21.00 per ADS
Initial public offering price raised to $23 and $25 (Wed Aug 3, 2005)

First day of Trading:
Last Trade: $122.54 (+353.85% from its IPO price of $27)
Day's Range: $60.00 - $151.21
Market capitalization: $3.92 billion
Biggest first-day gain from an IPO in five years
Second-best foreign IPO ever
One of the top-20 IPOs of all time (Source: Thomson Financial)

Chinese Search Market:
China's online search market ( including advertising, paid listings and real name searches) was worth an estimated $ 151 M last year, up 81 percent from 2003, according to Shanghai iResearch. China’s Internet search market is still at an early stage of development but is evolving rapidly. iResearch expects the number of Chinese Internet search users to grow at a compound annual growth rate of 27.5% from 2005 to 2007 (Estimatet Search Users in millions: 2005: 115; 2006: 149; 2007: 187).

Market Shares:
Baidu 36.3 percent
Yahoo 22.7 percent (Yisou, Yahoo! China, and 3721.com)
Google 21.2 percent

Other competitors:
Sina.com (China's top internet portal): iAsk.com
Sohu.com: Sogou.com
Zhongsou: Zhongsou.com
Microsoft: china.msn.com

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