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zhwenxue.com

Stage

Corporate Minority | Alive

Total Raised

$116.47M

About Zongheng Literature

Zongheng Literature (纵横文学), fka Baidu Literature (百度文学), is the online literature division of search giant Baidu.

Zongheng Literature Headquarters Location

Beijing, Beijing,

China

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Latest Zongheng Literature News

Gone with the wind: Baidu sells off its literatue subsidiary, gains USD 122M

Jun 21, 2016

Tweet on Twitter According to an insider familiar with Baidu, the Nasdaq-listed video game company Perfect World Entertainment has bought Baidu’s literature subsidiary for RMB one billion (USD 152.1 million). Reportedly, the deal is completed, and Baidu will retain a 20% share. Interestingly, Baidu had initially bought the literature website Zongheng.com from Perfect World in 2013; this, together with several other platforms, became Baidu Literature. Zongheng.com was purchased with RMB 191.5 million, and Baidu Literature was sold for RMB one billion. Baidu Literature was officially established in 2014, and was supposed to integrate with other resources of Baidu, ranging from China’s largest communication platform, Baidu Tieba, to games, music and videos, in order to form a complete value chain. However, the integration did go well. A widespread rumor arose last June that Perfect World was buying back the literature subsidiary to rebuild its business of online literature. Baidu Literature may be later known as another name, the insider said. (Top photo from Baidu Images) TAGS

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  • Where is Zongheng Literature's headquarters?

    Zongheng Literature's headquarters is located at Beijing.

  • What is Zongheng Literature's latest funding round?

    Zongheng Literature's latest funding round is Corporate Minority.

  • How much did Zongheng Literature raise?

    Zongheng Literature raised a total of $116.47M.

  • Who are the investors of Zongheng Literature?

    Investors of Zongheng Literature include Guonong Brothers, Beijing Cultural Investment Development Group, Perfect World, Share Capital, Shengjing Group and 4 more.

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