Sohu, a Chinese internet pioneer, tumbles out of the billion-dollar stock market club – South China Morning Post

What happened: The market value of Sohu, one of China’s leading internet portals, has declined to below $1 billion, showing a further decline from the company’s peak in 2011. Shares of Sohu were closed at $ 25.2, an 11-year low, on the New York Stock Exchange. The share price has declined more than 70% since its record $105.74 in April 2011.

Why it’s important: Sohu was the first company in mainland China to be connected to a trunk line to the Internet in 1996. It then launched its own search engine, online games portal, video and news site. Despite being a pioneer in China’s Internet scene, Sohu gradually fell behind as products developed by companies such as Alibaba, Bytedance, and Tencent gradually ate up Sohu’s market share.

Jiefei Liu

Jiefei Liu is a Beijing based tech reporter. She focuses on the union of tech and content creation and loves agriculture. You can write to her at Jiefei@technode.com

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