China Search Engine Raises IPO Target - Yahoo! News

Baidu.com Inc., an online search engine maker vying to become the Google of China, priced its initial public offering at $27 per share late Thursday, cashing in on the high hopes riding on a startup with a large audience and puny profits.

Baidu's biggest shareholder also is from the United States, Draper Fisher Jurvetson, a Silicon Valley venture capital firm with a 28.1 percent stake worth $221 million at the IPO price.

Li, the company's 36-year-old chief executive, also hit the jackpot with Thursday's IPO. His 25.8 percent stake is worth $203 million.

[Yahoo]

Call it the GOOG effect. Look for the internet search and China net sector - YHOO, GOOG, SINA, JOBS, etc - to trade up tomorrow.