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Tencent and Sogou join forces in search field
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Tencent, China’s largest Internet company by market value, yesterday said it has invested US$448 million in cash for 36.5 percent of Sogou, an online search unit of Sohu Inc.
“The partnership will lift Sogou’s position in the highly competitive PC search market and also in the rapidly involving mobile search market,” Sohu Chairman and Chief Executive Officer Charles Zhang said in a statement.
Tencent will become Sogou’s second-largest shareholder after Sohu. Tencent also merged its own Soso search-related business with Sogou. The two partners will leverage Sogou’s search engine to boost traffic.
Tencent could further increase its stake in Sogou to around 40 percent in the near future, according to a stock exchange filing yesterday.
Fu Liang, a veteran Internet researcher, said the tie-up “is a clever move for Tencent to boost its search business which could put a lot pressure on Baidu.”
Su Zhe, an independent market observer, said: “Sogou’s PC-based Pinyin input software will have a solid market position and its search business could have the power to challenge Baidu’s leading position.”
Baidu had 78.6 percent of the domestic search market in the second quarter of this year.
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