Baidu.com has become the most spectacular debut of a foreign company at the American stock market.
The value of the Baidu.com stocks, which debuted Friday on the American stock market, has increased four times in just a few hours. When the market opened, a Baidu.com stock was priced at $27 on NASDAQ, but at the end of the day, the price had reached 122.54 dollars.
The investors were drawn by Baidu.com's huge potential, which is used, according to statistics,
by 80% of the 100 million Chinese Internet surfers.
Baidu.com has turned in a few hours a series of companies from millionaires into billionaires. For example, Draper Fisher Juverston's stock package, a company which own 28% of the Baidu.com stocks, has increased from 12 million dollars to almost 1 billion.
Analysts say that this increase might point out the revival of the dotcom era, virtual companies recording significant decreases during 1999-2000.
The value of the Google stocks, a company which intially listed on the stock market last year, have tripled, but over a much more significant period of time: one year. Google owns 2.6% of Baidu.com's stocks, but Baidu.com officials refused to comment on the existence of a takeover offer from the American company.
Google has invested in the Chinese search engine, in response to Yahoo's acquisition of the company that administers another important Chinese search engine: 3721.com.
The interest in the Chinese Internet market is greater than ever and, according to studies, in 2007, the number of Chinese Internet surfers might reach 187 million.
Despite these fact, some analysts are still skeptical towards this increase, warning that after all, Baidu.com is a relatively small company and that this enthusiasm is caused by the high number of Chinese Internet surfers, which still doesn't justify the stocks' quadrupling.