Qihoo, first Internet security firm in China, is an alternative to online search in China. With the arrival of Qihoo in the search market, Baidu lost a few points of market share.
Strategy and Business Models
The firm is explaining its strategy to become a major Internet player, an alternative to Tencent and Baidu. The company is following three steps, the first one being Internet security. The second step is now in 2013 with search and browser services. The goal is to build a large user base. Maybe the third step will begin in 2014 with Qihoo able to introduce and recommend third-party applications and services to its existing user base.
Like Baidu and Tencent, Qihoo should find local partners in new markets to reduce risks of going to unknown markets. According to VALUE2020, Brazil, India, Indonesia are likely to be targeted by Qihoo.