Sogou targeting $4B-$5B IPO/ Tencent Holdings (OTCPK:TCEHY) owns a major stake in Sogou's operation.
Jan. 3, 2017 8:31 AM ET|By: Eric McCaffrey, SA News Editor
Sogou, the third largest search engine in China, is considering floating 10%-12% of its shares in an offering to possibly come at some point this year.
Tencent Holdings (OTCPK:TCEHY) owns a major stake in Sogou's operation.
Sogou explicitly targets Baidu (NASDAQ:BIDU) in remarking on the prospect, claiming eventual replacement of the latter over coming years as it sees users becoming more comfortable with its service.
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