Baidu
8th January 2015
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Baidu is China’s leading search engine and the fifth most visited site globally. The company is making the transition to mobile and spent $650 million on research and development in 2013 and launched mobile-payment-system Baidu Wallet in April 2014. Its efforts are paying off: the Mobile division made up a record 30% of revenue in the second quarter of 2014. Though its influence outside of China is still quite limited, Baidu has recently expanded abroad via a search-engine service in Brazil and a Silicon Valley research centre. It is currently applying for banking licenses and is developing a driverless car. Chairman Robin Li is China’s third-richest person, with a $12.1 billion fortune.
