Baidu’s iQiyi video service raises $1.53 billion

Baidu is charging up its video content push after iQiyi, its YouTube-style service in China, raised $1.53 billion from the sale of convertible notes to investors. The deal appears to end speculation that the firm was mulling an IPO. iQiyi, which had on offer to go independent fall through last year, raised the capital from a number of top-name investors including Hillhouse Capital, Boyu… Read More