Tencent Could Dominate China’s Online Video Market by Investing in iQiyi
iQiyi's (NASDAQ: IQ) stock recently surged after Reuters claimed Tencent (OTC: TCEHY) could buy a major stake in the video streaming giant. Baidu (NASDAQ: BIDU) spun off iQiyi in an IPO two years ago, but maintains a 56.2% stake in the company.
iQiyi and Tencent Video are the two largest subscription-based streaming video platforms in China. iQiyi served 119 million subscribers last quarter, while Tencent Video reached 112 million subscribers.
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Source Fool.com
