Google is ready to invest in China
Kai-Fu Lee, president of Google China, reported that Google will acquire "one or two companies" in the country and invest in up to five more in the coming year. While the specific companies were not named in the report, the acquisitions/partnerships are thought to be a part of the search company's ongoing efforts to unseat rival Baidu.com as the country's leader in internet search. A (U.S.-based) Google representative told Wired News he couldn't confirm Lee's comments due to the time difference in Beijing. A statement is expected on Monday.
In the past, Google (or ‘Guge,’ what is to be its Chinese name brand) has made no secret of its plans for China. In fact, CEO and president Eric Schmidt said his company is off to a pretty good start already, and that "the tenacity of Google…will bring significant victories in China over the next few years."
