BEIJING, Aug. 24, 2021 /PRNewswire/ -- Baidu, Inc.
("Baidu" or the "Company"), a leading AI company with strong
Internet foundation, today announced that Xiaodu Technology
("Xiaodu") has closed Series B financing at a $5.1 billion post-money valuation
"We are pleased to see the rapid growth of Xiaodu, leveraging
Baidu's AI and large content and services mobile ecosystem, to
change the way hardware provides value for consumers. Xiaodu
entered the market in 2018 with sub RMB
100 smart speakers and rapidly became the world's largest
smart-display provider based on shipments," said Herman Yu, CSO and CFO of Baidu. "DuerOS with
voice modality and larger screen is growing Internet usage at home
and becoming the command center for IoTs, with its fast growth of
OEM partnerships. Services revenue surpassed 10% of Xiaodu revenues
in the most recent quarter, encompassing membership, advertising
and skills store revenue share."
Baidu remains a super majority shareholder after the
Transaction. Xiaodu Series A was completed in November 2020 at a post-money valuation of
Founded in 2000, Baidu's mission is to make the complicated
world simpler through technology. Baidu is a leading AI company
with strong Internet foundation, trading on the NASDAQ under "BIDU"
and HKEX under "9888." One Baidu ADS represents eight Class A
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CONTACT: Jialing Tian,
SOURCE Baidu, Inc.