Google Invests In Chinese Portal

Google today announced an investment in Chinese internet portal Tianya.cn, part of its renewed effort to reverse losses in China. Google bought anywhere from 10-60% of the website, according to conflicting reports, hoping to close the gap with Baidu, which holds 58% market share lead in China over Google’s 22.8&. Google had invested in Baidu in recent years, an investment it eventually sold off.
TechCrunch explains the overall plan:
As reported August 17, Google stated its intention to acquire 1 or 2 China focused internet companies and invest in 5 over the next 12 months. The investment in Tianya.cn would appear to be the first of those 5 investments.

Original post by Nathan Weinberg