Foundation: 2000
Headquarters: Beijing, China
CEO: Robin Li
Executive Summary: Baidu is a leading Chinese technology company, primarily known for its search engine, which is often referred to as the “Google of China.” Founded in 2000 by Robin Li and Eric Xu, Baidu started its journey in Beijing with a focus on developing search engine technology. The name “Baidu” is derived from a Chinese poem, symbolizing the pursuit of one’s dreams, which aligns with the company’s mission to provide the best way for people to find what they’re looking for.
The early years of Baidu were marked by rapid growth, primarily due to its superior search algorithm tailored to the nuances of the Chinese language. In 2001, Baidu launched its first search engine product, which quickly gained traction among Chinese internet users. By 2003, Baidu had become the dominant search engine in China, surpassing its competitors by offering a more relevant and faster search experience.
Baidu’s IPO on Nasdaq in August 2005 was a significant milestone, making it the first Chinese company to be listed on a major US stock exchange. This move not only provided Baidu with capital for further expansion but also marked its recognition on the global stage. Post-IPO, Baidu ventured into various sectors beyond search, including online advertising, news, maps, and video services under platforms like Baidu Tieba, Baidu Baike, and iQIYI.
The company’s expansion didn’t stop at online services. In 2014, Baidu started to heavily invest in Artificial Intelligence, particularly in areas like autonomous driving, voice recognition, and machine learning, positioning itself as a pioneer in AI technology within China. This led to the development of projects like Apollo, an open, comprehensive, and reliable platform for the autonomous driving industry, and Baidu Brain, an AI platform aimed at enhancing Baidu’s services with intelligent features.
Over the years, Baidu has faced various challenges, including regulatory hurdles from the Chinese government, competition from both domestic and international tech giants, and scrutiny over issues like privacy and censorship. However, Baidu has continued to innovate and adapt its business model, focusing on mobile internet, AI, and cloud computing.
Today, Baidu stands as a multifaceted tech conglomerate with a significant presence in search, AI, and digital services. Its annual income is approximately US$20 billion.