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August 5, 2005
Baidu.com Goes Public, Shares Soar
Chinese web search engine Baidu.com (Google is a minority shareholder) went public today with its IPO on NASDAQ. Shares opened at $66 more than tripling the IPO price of $27. As I post this item shares are trading at $92. Also, Baidu's CEO, Robin Li, did not comment on rumors that Google tried to buy the company prior to today's IPO.
In an interview with CNBC, he [Robin Li] said the company is "happy" to have Google as a shareholder and that Baidu.com "will keep its options open" as it moves ahead.
Posted by Gary Price on August 5, 2005 1:09 PM
