Robin Li, CEO of Baidu.com
GOOGLE Inc said it has sold its stake in Chinese rival Baidu.com, the Associated Press reported today.
Google registered to sell all of the 749,625 shares of Beijing-based Baidu.com Inc it owns, according to a Tuesday filing with the Securities and Exchange Commission.
Google bought about 2.6 percent of Baidu.com’s outstanding Class A ordinary shares for about US$5 million before the Chinese search engine’s initial public offering last year. The shares are valued at more than US$60 million, based on Baidu.com’s current stock price.
Baidu.com, often called the “Chinese Google,” went public last August.
John, can’t you give us stock tips like this?
John, can’t you give us stock tips like this?
Yes,
Then I could have bought $5 worth of stock and sold it for $60…
No wait, I didn’t have a chance to buy before their IPO…
An example of two great maxims at work:
“It takes money to make money”
‘Its not who you know, its who you blow”