Baidu Buys iQiyi.com from Providence Equity
Chinese search company Baidu Inc. will pay an undisclosed amount for shares of iQiyi.com currently held by Providence Equity Partners. The deal gives Baidu a “substantial majority” stake in iQiyi, the company said. Launced in April 2010, iQiyi is an online video platform focused on fully licensed, high-definition and professionally-produced content.





