Sohu sells search engine Sogou stake to Alibaba, funds
China’s top e-commerce player Alibaba Group is to take a 16% stake in Sohu.com Inc.’s online search business Sogou as part of a deal that sees Alibaba and its Chairman Jack Ma, through a separate fund, buy preferred shares, while Sohu’s Chairman Charles Zhang will also purchase a 16% stake in Sogou via a separate fund, leaving Sohu – China’s second-largest portal – with 68% control of the search division.
According to the companies, the deal aims to boost Sogou's profile in a market where revenue related to search topped $1 billion by the end of 2009. Sogou is currently the third-largest player in China,...
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