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Tuesday, 29 June 2010 - Baidu to hire U.S. engineers to work in China |
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    Edition: U.S. Article Comments (0) Save Email Print Reprints Most Popular Most Shared U.S. intelligence community debates China's bond holdings 23 Jun 2010 Trapped drunk driver opens another beer as awaits rescue 23 Jun 2010 Sandra Bullock, Jesse James finalize divorce | Video 28 Jun 2010 Mexican singer murdered after denying he was dead 28 Jun 2010 Russia alarmed by CIA view of Iran's weapons 27 Jun 2010 Megan Fox marries in Hawaii: report 3:17am EDT Obama says he's serious about tackling deficits 27 Jun 2010 Supreme Court rules against Christian group that bars gays 28 Jun 2010 Storm to slow oil spill containment ramp-up | Video 1:15am EDT General McChrystal to retire from U.S. Army: official 28 Jun 2010 Elevation Partners buys $120 million in Facebook shares 28 Jun 2010 Steve Carell "resigning" from "The Office" next year 28 Jun 2010 Supreme Court rejects Vatican appeal in sex abuse case 28 Jun 2010 U.S. intelligence community debates China's bond holdings 23 Jun 2010 UPDATE 1-Plan hatched to move turtle eggs from oil spill 28 Jun 2010 UPDATE 1-Plan hatched to move turtle eggs from oil spill 28 Jun 2010 Plan hatched to move turtle eggs from oil spill 28 Jun 2010 STOCKS NEWS US-US may face 2nd recession in '10-Conference Board 02 Apr 2009 Trapped drunk driver opens another beer as awaits rescue 23 Jun 2010 Top court extends gun rights to states, cities 28 Jun 2010 Baidu to hire U.S. engineers to work in China Melanie Lee SHANGHAI Tue Jun 29, 2010 1:56am EDT A pedestrian walks past the company logo of Baidu located outside their headquarters in Beijing March 24, 2010. Credit: Reuters/David Gray SHANGHAI (Reuters) - Baidu Inc, China's leading search engine, will start hiring software engineers directly from the United States early next month, as it seeks to expand its technological capabilities and raise its global profile. ipad  |  Media Baidu stands to be the biggest beneficiary in China's search sector after Google Inc relocated its China servers to Hong Kong following a high-profile spat with Beijing over censorship and hacking. Baidu would hire 30 mid-to senior-level software engineers from Silicon Valley at a job fair on July 10 to drive new technology projects, its first direct hiring from the United States, a Baidu spokesman told Reuters on Tuesday. "Baidu believes that talent is the key to our success as a company, and we go where ever the best talent can be found, whether here in China or in Silicon Valley," Zheng Bin, Baidu's human resources director said in a statement to Reuters. "As we develop more and more advanced search technologies, our need for world-class talent will only continue to increase." Baidu is a household name in China but not well known overseas. Baidu Japan, the firm's venture into the Japanese search market, has been loss-making ever since its inception. The hiring is significant as it shows that Baidu, traditionally domestically focused, is eager to raise its profile overseas and plug into talent outside China. The move also comes as other Chinese Internet firms, such as Tencent Holdings, China's largest Internet firm by market value, are starting to invest overseas. Analysts expect Baidu to win as much as half of Google China's search revenue, which could add as much as $330 million annually to Baidu's top line, representing a more than 50 percent increase on 2009 revenue of 4.45 billion yuan ($654.8 million). The migration to a new search keyword system has also fueled revenue growth, leading to the need for more software engineers, said a Baidu spokesman. In an archetypal rags-to-riches tech story, Baidu was founded by Robin Li, who started the firm in a 3-star hotel room in Beijing. The search giant, whose name is taken from an ancient poem, now dominates the world's biggest Internet market, with more than 60 percent market share by revenue and about 75 percent by traffic. Baidu shares are up 80 percent since the start of the year compared with the Nasdaq's 2 percent fall. It now trades at a rich forward 2010 price earnings ratio of 61 times, more than triple that of Google. (Reporting by Melanie Lee; Editing by Jonathan Hopfner) ipad Media     Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters.   © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback   Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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