Baidu (BIDU) Founder Explains How Google (GOOG) Failed in China
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Baidu Inc. (NASDAQ: BIDU) has benefited greatly from the Google Inc. (NASDAQ: GOOG) exit from China, the world's largest Internet market, and the company's founder and chairman Robin Li gives insight into how this happened.
"China is a very different market (from the United States and Europe)," Li said.
Google moved its Chinese operations to Hong Kong due to a censorship battle with the government in China, a decision that was nearly mirrored by Baidu at one point.
"My life would be ruined. I would be some kind of anti-government person," Li said, as he once considered launching Baidu out of Hong Kong to avoid Chinese laws.
The move to stay in Beijing seems to have paid off as shares of Baidu are now up 150 percent from 52-week lows and the company is in overwhelming control of China's search market.
"China is a very different market (from the United States and Europe)," Li said.
Google moved its Chinese operations to Hong Kong due to a censorship battle with the government in China, a decision that was nearly mirrored by Baidu at one point.
"My life would be ruined. I would be some kind of anti-government person," Li said, as he once considered launching Baidu out of Hong Kong to avoid Chinese laws.
The move to stay in Beijing seems to have paid off as shares of Baidu are now up 150 percent from 52-week lows and the company is in overwhelming control of China's search market.
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