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Qihoo 360 Technology Co. Ltd. Message Board

  • thekraken32 thekraken32 Aug 30, 2013 10:24 PM Flag

    QIHU $550 Mil Capital Raise for Autonvai (AMAP) Investment?

    Qihoo raised $550 mil this past week and publicly denied it was to buy Sogou from Sohu. The same day basically the CEO of Qihoo was publicly praising Autonavi (AMAP) for making their premium map app free. Baidu is getting aggressively into maps but Autonavi is way better bc they have been doing it for 10 years. The CEO of Qihoo is on the board of directors of Autonavi (AMAP) and knows the company well. If Qihoo wants to be the leader in search they need a top map product and they are way too far behind to play catch up. In other words, they need Autonavi bad. Maybe the $550 mil is to invest in Autonavi (AMAP)? Qihoo's search engine already uses Autonavi. Why wouldn't Quihoo want to own a big piece of the map platform they offer users? Especially when their top search competitor Baidu is ahead of Qihoo in maps and that's a big disadvantage. If Qihoo invests in AMAP they get to turn the table on Baidu and own a piece of by far the best mapping company China.

    3 months ago Alibaba invested $294 mil into Autonavi for a 28.3% stake. Autonavi and Alibaba are working together to create a maps based ecommerce ecosystem. Millions of Taobao and Tmall storefronts are going to be in Autonavi maps. Qihoo CEO is a serial entrepreneur and I bet he wants in on this action

    Something big is up is my guess but only time will tell what the $550 mil is for

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