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Baidu's iQiyi unit secures USD 1.5 bln in funding

Wednesday 22 February 2017 | 13:39 CET | News
Chinese internet giant Baidu has announced it has raised USD 1.53 billion from a group of private equity investors to fund the growth of its video-streaming site iQiyi.com. Baidu said its subsidiary iQiyi completed USD 1.53 billion convertible bonds' subscription, SinoCast reports. Baidu subscribed USD 300 million convertible bonds, while other subscribers include Hillhouse Capital Group, IDG, Sequoia Capital.

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Categories: Internet
Companies: Baidu
Countries: China
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