Here's info on Sohu ... they are apparently applying for a listing on the NASDAQ later this year ... (this taken from newsalert).
Chinese Internet Firm Posts Profit After One Year
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HONG KONG, CHINA, 1999 JAN 11 (NB) -- By Staff, IT Daily. China is about to see its first profitable Internet venture, raising strong hopes for the mainland's online content business.
According to a report in the Financial Times, Sohu, a leading Chinese language Internet content provider, expects its current audit to show the company had broken even after 11 months in business.
"We have got about 60 percent of the Internet advertising market in China," said Charles Zhang, chief executive officer of Sohu.
Zhang told the Financial Times that his company employs about 80 staff and received 100,000 visitors and 700,000 page views a day.
Yin Zhihe, executive chairman of the Beijing Software Industry Association, said China had been slow to invest in local Internet start-ups. State banks often lacked the skills to identify potential winners, and unproven Internet companies were discouraged from listing in China.
The report suggested that the success of Sohu, and companies like it, will attract more overseas venture capitalists and encourage more Chinese technology firms to list on the New York Stock Exchange.
Wang Zhidong, president of Sina Inc., said that he planned to list on Wall Street's Nasdaq exchange later this year.
Reported by Newsbytes News Network, <A
HREF="http://www.newsbytes.com">http://www.newsbytes.com</A>;
10:30 CST
(19990111/WIRES ONLINE, ASIA, BUSINESS/)
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