Baidu – IQIYI IPO Surfaces Value of Core Business – Search Is Undervalued
Follow Antya Investments We believe Baidu Inc (ADR) (BIDU US) has taken multiple steps to de-risk its business by divesting the financial services segment, and via a successful IPO of iQIYI Inc (IQ US). Given the valuations of iQIYI Inc (IQ US) and Ctrip.com International (ADR) (CTRP US), we believe Baidu’s core search business is […]