Goes Public, Shares Soar

Chinese web search engine (Google is a minority shareholder) went public today with its IPO on NASDAQ. Shares opened at $66 more than tripling the IPO price of $27. As I post this item shares are trading at $92. Also, Baidu’s CEO, Robin Li, did not comment on rumors that Google tried to buy the company prior to today’s IPO.

In an interview with CNBC, he [Robin Li] said the company is “happy” to have Google as a shareholder and that “will keep its options open” as it moves ahead.

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