While AOL, Apple and Yahoo suffered losses of more than 1.00% in the stocks markets, Baidu’s stock jumped by a significant percentage on news that it is partnering with Facebook.
Earlier it was reported that Chinese search engine Baidu entered a partnership with Facebook to create China-specific social network which greatly impacted the trend in the exchanges.
Experts in the industry believe that the partnership if successful would bring a significant new stream of revenue for whatever parties share in the profits.
Baidu’s stock rose by 2.68% during normal trading hours today, putting its market cap at an impressive $50.63 billion.
By comparison, the respective market caps of AOL, IAC, Yahoo, and eBay are just $2.11 billion, $2.72 billion, $21.72 billion, and $40.47 billion.