Google To Buy Chinese Companies To Compete Better In China
Aug 16, 2007 at 3:20pm ET by Barry Schwartz
Google Increases Stake in China from PC World reports that Google will be investing heavily in China over the next couple years to try to take market share from Chinese search leader Baidu.
Kai-Fu Lee, president of Google China, said, Over the next year, Google will acquire one or two companies in China, and invest in four to five companies.” Google’s CEO, Eric Schmidt, explained, “It’s a very good start and although we don’t think that this will result in an immediate huge success, we think that the tenacity of Google … will bring significant victories in China over the next few years.”
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