Reuters: China search site Baidu.com seeks $80 mln in IPO. (via Yahoo News)
Excerpt: The five-year-old company is still small by Western standards but is growing rapidly, with revenue more than doubling to 42.6 million yuan ($5.14 million) in the first quarter from 17.2 million a year ago, according to the prospectus.
The Beijing-based company posted a net profit of 12 million yuan in 2004.
Analysts said the $80 million the company hopes to raise was slightly smaller than expected, but that the company’s valuation would be the most important factor to watch.