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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

Published Tue, Sep 26, 2017 · 09:50 PM
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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.

Baidu wants to continue holding a controlling stake in iQiyi upon the IPO via dual-class shares, the people said. The IPO process, however, is in its early stages and the …

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