Qihoo 360 to Waive Cuts from Small Teams

Qihoo360, the Chinese online security guard announced today to waive cuts from small teams with monthly income below RMB 500,000 (US$ 79,100), on the heels of Tencent’s statement couple weeks ago claiming that QQ open platform players could keep all proceeds if their monthly income comes below RMB 100,000 (US$ 15,800).

Zhou Hongyi, CEO of Qihoo remarked that “we’re not trying to compete with QQ, 2012 will be the Open Year for China Internet, we hope we can grow with our developers.”

Qihoo360 launched 360 Security Desktop in March of 2010, for which 3rd party developers can build innovative apps. The company’s 360 Open Platform to date has more than 7,000 partners including Douban, Youku, Tudou and so forth. Developers can choose to submit their PC-based app and/or mobile app to the platform.