Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United States
  4. Nasdaq
  5. Baidu, Inc.
  6. News
  7. Summary
    BIDU   US0567521085

BAIDU, INC.

(BIDU)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe BZX - 10/22 05:02:00 pm
180.7 USD   +0.06%
06:25aTencent says 'loophole' allowed WeChat searches on Google, Bing
RE
01:51aTENCENT : WeChat Starts Displaying Content on Google, Bing
MT
10/20BAIDU, INC. : A technical turn-around configuration
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

BAIDU.COM ADS : Baidu Takes Immediate Measures in Response to Recent CCTV Reports

11/18/2008 | 09:27am EDT

BEIJING, Nov. 18 /PRNewswire/ -- Baidu.com, Inc. (Nasdaq: BIDU), the leading Chinese language Internet search provider, today issued this press release in response to recent CCTV reports.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081103/BAIDULOGO )

Baidu focuses on providing customers with cost-effective and targeted marketing solutions. Baidu's pay-for-performance ("P4P") paid search platform enables its customers to reach users who search for information related to their products or services. Customers may use Baidu's automated online tools to create text-based descriptions of their web pages and bid on keywords that trigger the display of their links and web page information.

China Central Television ("CCTV"), the largest state-owned television network in China, reported in its program "News in 30 Minutes" on November 15 and 16 that Baidu had been including websites of medical companies that do not hold proper licenses in its paid search listings for some popular medical terms, while excluding certain websites which did not buy keywords.

Shortly after the CCTV program was broadcast, Baidu initiated dialogue with CCTV regarding this matter. At the same time, Baidu removed paid search listings of certain customers, particularly medical and pharmaceutical customers without licenses on file with Baidu. Baidu will allow these customers to resume access to Baidu's P4P paid search platform once their relevant licenses are provided to and reviewed by Baidu. These customers account for approximately 10-15% of Baidu's total revenues. Baidu believes this immediate measure is the most prudent way to protect the interests of Baidu's users. Currently, it is difficult to estimate how many removed customers will provide relevant licenses to Baidu and when they will do so. Baidu will work closely with customers to ensure those customers with proper licenses will be able to access Baidu's services again quickly. While Baidu is currently uncertain about the near term financial impact of this prudent measure, Baidu does not believe it would have significant impact on Baidu's results in the long term.

On November 17, 2008, Baidu issued a public statement in China, acknowledging that there could be cases where certain companies take advantage of Baidu's paid search platform for questionable purposes. Baidu is committed to social responsibility and will continue to improve its sales and operational systems commensurate with its status as the leading Chinese language Internet search provider.

Separately, Baidu would like to affirm that Baidu has never excluded websites of any customers because they did not pay for keywords, and Baidu does not tolerate such practices.

Baidu is committed to playing a leading role in shaping the standards for China's Internet industry. Baidu strives to further strengthen its operational systems and infrastructure. With a more mature operation, Baidu will grow even better able to serve increasing numbers of small and medium- sized enterprises ("SMEs"), the backbone of the Chinese economy.

Conference Call Information

Baidu will hold a live analyst conference call at 7:00 AM on November 19, 2008 U.S. Eastern Time (8:00 PM on November 18, 2008 Beijing/Hong Kong time).

    Dial-in details for the conference call are as follows:

    US:            + 1-617-213-8842
    UK:            + 44-207-365-8426
    Hong Kong:     + 852-3002-1672

    Passcode for all regions: 88779261

A replay of the conference call may be accessed by phone at the following number until November 26, 2008:

    International: + 1-617-801-6888

    Passcode: 48434960

Additionally, a live and archived webcast of this conference call will be available at http://ir.baidu.com .

About Baidu

Baidu.com, Inc. is the leading Chinese language Internet search provider. As a technology-based media company, Baidu aims to provide the best way for people to find information. In addition to serving individual Internet search users, Baidu provides an effective platform for businesses to reach potential customers. Baidu's ADSs, each of which represents one Class A ordinary share, are currently trading on the NASDAQ Global Select Market under the symbol "BIDU."

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including statements about Baidu's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those contained in any forward- looking statements. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. All information provided in this press release is as of November 18, 2008, and Baidu undertakes no duty to update such information, except as required under applicable law.

    For investor inquiries please contact:

    China
     Linda Sun
     Baidu.com, Inc.
     Tel:   +86-10-8262-1188
     Email: ir@baidu.com

     Derek Mitchell
     Ogilvy Financial, Beijing
     Tel:   +86-10-8520-6284
     Email: derek.mitchell@ogilvy.com

    U.S.
     Thomas Smith
     Ogilvy Financial, New York
     Tel:   +1-212-880-5269
     Email: thomas.smith@ogilvypr.com

    For media inquiries please contact:

     Ceren Wende
     Ogilvy Financial, Beijing
     Tel:   +86-10-8520-6514
     Email: ceren.wende@ogilvy.com

SOURCE Baidu.com, Inc.


© PRNewswire 2008
All news about BAIDU, INC.
06:25aTencent says 'loophole' allowed WeChat searches on Google, Bing
RE
01:51aTENCENT : WeChat Starts Displaying Content on Google, Bing
MT
10/19BAIDU : Hyundai Opens First Overseas Digital R&D Hub in Shanghai
MT
10/19BAIDU : EXPLANATORY NOTE - Form 6-K
PU
10/19Xiaomi Plans to Mass Produce EVs in 2024
DJ
10/18Alibaba unveils custom ARM-based server chip for cloud computing data centers
RE
10/18Alibaba Nears Launch of Cloud Service Chip to Rival Amazon, Huawei
MT
10/18Beijing Mulls Asking Tencent, ByteDance, Others to Display Content in Search Engines
MT
10/18SHANGHAI STOCK EXCHANGE B SHARES IND : China's Smart Home Device Shipments Seen Rising 14...
MT
10/14Chinese tech workers disclose working hours in criticism of '996'
RE
More news
Analyst Recommendations on BAIDU, INC.
More recommendations