June 15, 2004 8:50 AM PDT
Google invests in Chinese search
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The other new investors are Bridger Management, China Equity, China Value, and Venture TDF, Baidu said Tuesday. Meanwhile, present investors--Integrity Partners and Peninsula Capital--have also put in fresh money.
The search site did not release financial details.
Google added to its presence in the Chinese search market earlier this year with its advertising product called AdWords in two Chinese dialects. China has a thriving Internet market with 80 million Internet users--a figure that is projected to jump to 100 million by end of this year, according to China Internet Network Information Center.
Beijing-based Baidu, which launched its search service in 2001, is the most frequently used search engine in China, the company said. It offers a Chinese Web page index of more than 300 million pages, in addition to paid search services.