General info on Baidu IPO

Who is Baidu?

Baidu is a Chinese conglomerate specialized not only in Internet-related services and products but also in artificial intelligence. It is headquartered in Beijing, and it was founded in 2000 by Robin Li and Eric Xu.

Baidu IPO statistics

According to its SEC filing, Baidu is looking to raise $3.1 billion by selling 95 million shares, which represent 3.4% of the total number. The company joins the list of Chinese companies listed on the US and Hong Kong markets, such as Alibaba, JD.com, and NetEase.

Baidu stated that the listing proceeds would be invested in technology and boost sales of its AI products and overall corporate purposes. The final price will be set on March 17, and the shares will be available for trading on March 23.

What is Baidu’s market cap?

Baidu has a market cap of $91.62 billion.*

Basic info about Baidu

• It was the first Chinese company to be included in the NASDAQ- 100 index.
• In 2018 it joined the computer ethics consortium Partnership on AI, the first-ever Chinese company invited to participate.
• Baidu means “a hundred times”, and it is a line from Xin Quji’s poem “Green Jade Table in The Lantern Festival.”

*as of March 19, 2021

Sources: sec.gov, cnbc.com, finance.yahoo.com, finviz.com