Baidu’s iQiyi video service raises $1.53 billion

TechCrunch
By Jon RussellFeb 22, 2017, 1:09 am173 pts
Baidu is charging up its video content push after iQiyi, its YouTube-style service in China, raised $1.53 billion from the sale of convertible notes to investors. The deal appears to end speculation that the firm was mulling an IPO. iQiyi, which had on offer to go independent fall through last year, raised…

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