Unlicensed music distributor Baidu has admitted taking money from unlicensed medical companies.
Baidu dominates the search business in China, the bulk of its revenue coming from pay-for-placement in its search pages, which it calls “Page Rank Bid”. The company says it will now stop the practice, which accounts for 10 to 15 per cent of its revenue by its own estimates.
Investment bank Piper Jaffrey, a stock Booster for the NASDAQ-quoted company, puts the figure much lower, at 3 per … Read More
Baidu is renowned as China’s glittering internet success story, and as the start-up that gave Google a bloody nose. It dominates the web in the world’s second biggest economy with 70 per cent market share, and on Wall Street carries a market cap of almost $12bn.
But Baidu’s success comes at a price, for the legitimate music business, for the development of China and of its intellectual property (IP) law, and for any internet company wishing to do business in … Read More