search engine Sogou, a subsidiary of Sohu.com, on Monday, unveiled its
initial public offering (IPO) in the U.S., a strategic move that many
see as an attempt to take on Chinese search engine giant Baidu.
It plans to submit a confidential draft registration statement to the US
Securities and Exchange Commission for the launch, according to a
statement by Sohu.
“The IPO may commence as early as market conditions permit, and is
subject to Sogou’s filing with the (Securities and Exchange
Commission)…in compliance with the U.S. Securities Act of 1933,” read
Sohu’s statement, without revealing the number of shares or the size of
In an earlier interview with Bloomberg in January, Sogou’s CEO Wang
Xiaochuan said that the company was eyeing a $5 billion IPO.
The IPO is widely seen as a move to narrow the gap with Baidu in the
search engine market, especially as Tencent also invested $448 million
in Sogou, which is currently co-owned by Tencent (45.27 percent) and
Sohu (39.21 percent).