China's Netflix said to seek at least US$8b value in IPO
iQiyi, the only Chinese service that licenses shows from Netflix, ramps up content battle with Alibaba, Tencent
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Hong Kong
BAIDU Inc's iQiyi is targeting a US initial public offering as soon as in 2018 that could value China's most popular Netflix-style streaming video service at more than US$8 billion, two people familiar with the matter say.
The company controlled by search giant Baidu is about to kick off negotiations with banks and deal arrangers and is shooting for a valuation of as much as US$10 billion, the people said, asking not to be named because the matter is private.
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