Chinese Search Engine – Baidu – Sued
Chinese search engine, Baidu, is reportedly being sued by Sony, Warner Music, EMI, and Universal. This news comes on the heels of Baidu’s recent, and successful public offering (about a month ago now). The law suits were in fact imposed sometime in July, and just now Sony is being added to the list of contenders.
If you go to www.Baidu.com and search for a song under the engine’s MP3 tab, usually a relevant result will return. I did this and was able to find Kanye West’s “Gold Digger” prior to its official release.
Unfortunately, Baidu’s stock price dropped 28% based on analysts reports that its heavily over valued and faces fierce competition from Google and Yahoo who are gaining traction over the Great Wall.