The golden age for China’s Internet industry has yet to come, despite some deals worth billion dollars having already taken place.
So said veteran Chinese Internet entrepreneur Victor Koo, the former president of the top Chinese Internet portal Sohu.com Inc. Speaking in Beijing yesterday, he said this year has been a significant one for the country’s Internet industry; it entered the billion-dollar era, with Yahoo! buying a 30 per cent stake of the Chinese e-commerce company Alibaba, and at one time the Chinese search company Baidu’s market capitalization reached US$4 billion on the NASDAQ.
“However, the real golden age will come in three to five years and it will be a golden age for big deals on the capital markets,” said Koo, who has worked in the Internet industry for 11 years.
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