Beijing’s Central Television (CCTV) took aim this week at Internet search giant Baidu Inc. with an expose that highlights how they run their Search Ad sales, even going so far as to send undercover reporters into Baidu offices, with hidden cameras.
CCTV blamed Baidu Tuesday, for allegedly allowing libellous comments to appear on its social networking service. Then by Wednesday it had set up a whole internet page dedicated to ripping the search company.
Coincidentally, this all comes just as CCTV is launching its own search engine. Baidu is currently the market leader with over 75% of China’s online search volume (and revenues).
As a result, Baidu’s shares fell 6.7 per cent on Thursday in New York. This adds up to almost 15 per cent drop since the assault began this week.
In the midst of all this hoopla, in a revealing interview with Digit’s Senior Technology Editor Julia Angwin, Baido CEO Robin Lee answers questions about the Search Engine and about the future for the company.