Baidu
Categories
$51.2B
Marketcap
China
Country
Eric Xu (Founder)
Brent Callinicos (Board Member)
Technology
Summary
Baidu, Inc. is a Chinese multinational technology company specializing in Internet-related services, products, and artificial intelligence (AI), headquartered in Beijing's Haidian District. It is one of the largest AI and Internet companies in the world. The holding company of the group is incorporated in the Cayman Islands. Baidu was incorporated in January 2000 by Robin Li and Eric Xu. Baidu has origins in RankDex, an earlier search engine developed by Robin Li in 1996 before he founded Baidu in 2000.
Baidu offers various services, including a Chinese search engine, as well as a mapping service called Baidu Maps. Baidu offers about 57 search and community services, such as Baidu Baike (an online encyclopedia), Baidu Wangpan (a cloud storage service), and Baidu Tieba (a keyword-based discussion forum).
Baidu Global Business Unit (GBU) is responsible for Baidu's international products and services for markets outside of China. Baidu GBU's product portfolio includes keyboard apps Simeji and Facemoji Keyboard, content recommendation platform popIn, augmented reality network OmniAR, Japanese smart projector popIn Aladdin, and ad platform MediaGo, which is focused on Chinese advertisers looking to reach overseas users.
Baidu has the second-largest search engine in the world and held a 76.05% market share in China's search engine market. In December 2007, Baidu became the first Chinese company to be included in the NASDAQ-100 index. As of May 2018, Baidu's market cap rose to US$99 billion. In October 2018, Baidu became the first Chinese firm to join the United States-based computer ethics consortium Partnership on AI.
History
2000: Nine months later, in September 2000, two other venture capital firms, Draper Fisher Jurvetson and IDG Technology Venture, pumped another $10 million into the startup. When trading ended that day, shares of Baidu closed at $122, up 354 percent, the biggest opening on Nasdaq since the dot-com peak in 2000.
2001: In September 2001, Baidu began its own site — Baidu.com — which looked almost exactly like Google’s no-frills home page. In 2001, Baidu allowed advertisers to bid for ad space and then pay Baidu every time a customer clicked on an ad, predating Google's approach to advertising.
2003: In 2003, eBay bought the largest Chinese auction company — and then lost market share. In 2003, Baidu launched a news search engine and picture search engine, adopting a special identification technology capable of identifying and grouping the articles.
2004: Small and medium-size companies loved it, the site became deluged with traffic and Baidu turned a profit in 2004. In 2004, Amazon bought the largest Chinese online merchandiser — and then lost market share.
2006: Google and Yahoo both lost ground, with each company holding 16 percent pay-per-click shares for the first six months of 2006.
2012: On July 31, 2012, Baidu announced they would team up with Sina to provide mobile search results. On November 18, 2012, Baidu announced that they would be partnering with Qualcomm to offer free cloud storage to Android users with Snapdragon processors. With the world’s largest Internet user population – 564 million as of the end of 2012 – and a long way to go to reach Internet penetration levels of developed countries, China’s internet is growing in both influence and sophistication.
2013: On July 16, 2013, Baidu announced its intention to purchase 91 Wireless from NetDragon. On August 2, 2013, Baidu launched its Personal Assistant app, designed to help CEOs, managers and the white-collar workers manage their business relationships.
2014: On July 18, 2014, the company launched a Brazilian version of the search engine, Baidu Busca. On October 9, 2014, Baidu announced acquisition of Brazilian local e-commerce site Peixe Urbano.
2017: In June 2017, Baidu partnered with Continental and Bosch, auto industry suppliers, on automated driving and connected cars. In September 2017, Baidu launched a $1.5 billion autonomous driving fund to invest in as many as 100 autonomous driving projects over the ensuing three years.
2021: Fast forward to August 2021, Baidu revealed a new Robocar concept that's capable of Level 5 autonomous driving.
Mission
Baidu's mission is to "make a complex world simpler through technology."
Specifically, Baidu aims to achieve its mission through several key strategies:
Developing cutting-edge technology: Baidu invests heavily in research and development to create innovative technologies that can solve real-world problems.
Providing relevant and useful content: Baidu offers a range of services, including search engines, maps, online encyclopedias, and more, to help users find the information they need quickly and easily.
Improving user experience: Baidu is committed to making its products and services user-friendly and intuitive, so that even people who are not tech-savvy can use them effectively.
Empowering businesses: Baidu offers a range of marketing and advertising solutions to help businesses reach their target audiences more effectively.
Vision
Baidu's vision is to be a global leader in artificial intelligence (AI) and to create a world where AI is accessible and beneficial to everyone.
To achieve this vision, Baidu focuses on developing and deploying AI technologies that can solve real-world problems and improve people's lives. The company is committed to advancing AI research and development, building an AI ecosystem that includes both hardware and software solutions, and collaborating with other companies and organizations to drive innovation and promote the responsible use of AI.
Baidu envisions a future where AI is integrated into every aspect of our lives, from healthcare and education to transportation and entertainment. The company believes that AI can help us achieve more, do more, and be more, and that it has the potential to transform society in ways that we can't even imagine yet.
Key Team
Ji Xun Foo (Board Member)
Victor Zhixiang Liang (VP, General Counsel & Executive Assistant To CEO)
Dr. Haifeng Wang (Vice President)
Yuanqing Yang (Board Member)
Dr. Dou Shen (Executive Vice President)
Mr. Herman Yu (Chief Strategy Officer)
Mr. Jian James Ding (Board Member)
Rong Luo (Chief Financial Officer)
Guang Zhu (Senior Vice President)
Recognition and Awards
Products and Services
Baidu Search: A popular search engine in China that provides users with relevant search results, news articles, images, and more.
Baidu Maps: A mapping and navigation service that helps users find their way around cities and towns in China.
Baidu Encyclopedia: An online encyclopedia that provides users with information on a wide range of topics.
Baidu Tieba: An online forum where users can discuss topics of interest and connect with other people who share their interests.
Baidu Cloud: A cloud storage and computing service that allows users to store and access their files online.
Baidu AI: A suite of artificial intelligence services and solutions, including voice recognition, image recognition, and natural language processing.
Apollo: Baidu's autonomous driving platform, which provides a range of tools and services to help automakers and other companies develop and deploy self-driving vehicles.
DuerOS: A voice-activated AI assistant that can help users with a variety of tasks, such as making phone calls, sending messages, and controlling smart home devices.
Baidu Wallet: A digital wallet service that allows users to make mobile payments, transfer money, and purchase goods and services online.
Baidu Music: An online music streaming service that provides users with access to a large library of songs and playlists.
References
https://en.wikipedia.org/wiki/Baidu
https://www.zippia.com/baidu-careers-569866/
https://www.crunchbase.com/organization/baidu
https://www.companieshistory.com/baidu/
https://sec.report/CIK/0001329099
https://companiesmarketcap.com/largest-companies-by-revenue/
https://www.bloomberg.com/profile/company/BIDU:US#xj4y7vzkg
https://asia.nikkei.com/Companies/Baidu-Inc
Eric Xu (Founder)
Brent Callinicos (Board Member)
Technology