Sogou files for $600 million US IPO

Updated: This piece has been updated to reflect a miscalculation in the previous reporting that wrongly identified a disparity between earlier reported values and the value that the IPO aim value would generate.  

Sogou, the search engine subsidiary of Sohu, filed with the Securities and Exchange Commission (SEC) to raise up to $600 million via an IPO on the NYSE on Friday night Beijing time. Shares in Sohu closed up that day on the news. Its stock code will be SOGO.

Back in January, Bloomberg said Sogou was aiming for a $5 billion US IPO for 10% of its shares in a bid to raise funding to chase Baidu, especially in mobile, by improving its AI and machine learning. Then on July 31, Sohu announced Sogou would make registration filing with the SEC in the US, but the filing was confidential. The announcement puts the potential value of the company in roughly the same ballpark as Bloomberg had reported.

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