Qihoo 360, China’s largest anti-virus software provider, has filed for listing in New York Stock Exchange. It plans to raise US$200 million.
(I post a blog concerning it last week , but some of the details are wrong. http://en.technode.com/2011/03/11/360buy-going-ipo-in-a-few-weeks/)
According to its listing document, it had 339 million monthly active Internet users, representing a user penetration rate of 85.8% in China, as of January 2011.
While the anti-virus service is free, Qihoo’s revenue mainly comes from Online advertising and Internet value-added services, such as offering third party web games. Its revenue reached US$57 million in 2010, up 78% from the year earlier, while profit increase 103% to US$8.5 million.