Baidu receives Qiyi bid at US$2.8bn valuation

Chinese search giant Baidu has received a buyout offer for its video site Qiyi, which values the service at US$2.8 billion. In a statement, Baidu said it had received a non-binding proposal from Baidu chairman and CEO Robin Yanhong Li and Qiyi CEO Yu Gong for the 80.5% share in Qiyi that is owned by […]