(BIDU) shares have been the biggest beneficiary of Google (0700.HK), which the paper describes as “the biggest Internet company most people outside China haven’t heard of.” Tencent has a market cap of more than $38 billion, which is almost twice the size of BIDU – and bigger than Yahoo or eBay . The piece notes that the company has its own search engine, called Soso , and could be well positioned to take advantage of Google’s exit from China. The WSJ notes that Tencent is best known for QQ, its instant messaging program, which is used by about 70% of China’s 400 million Internet users. Soso in Q4 had under 1% of China’s search industry revenue, ranking behind not just Baidu and Google, but also the SoGou search service from (SOHU). This morning: BIDU is down $4.73, or 0.8%, to $562.22. TenCent in Hong Kong trading is down 9.10, or 5.5%, to 156.70. Previous Broadcom Sees 2010 Growth Above Semi Industry Rate We welcome thoughtful comments from readers. Please comply with our guidelines . Our blogs do not req…[Filtrs in article: BIDU ][FiltrRank: 6][Source: barrons.com/techtraderdaily]
Google China Exit Could Boost Tencent, Not Just Baidu – Tech Trader Daily – Barrons.com
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