The push to monetize its search engine apparently hasn't set Qihoo 360 (NYSE: QIHU ) back.
T.H. Capital is reporting that Qihoo 360's share of the search engine market has grown from 10.4% to 13.5%. Most of those gains have come at the expense of China's smaller players. Market leader Baidu's (NASDAQ: BIDU ) market share only slipped from 71.5% to 70.5%.
This is definitely positive news for Qihoo 360, as it proves that it's just not a novelty. It's amazing to think that Qihoo 360 didn't even have a search engine a year ago.