Have VCs spotted the next Baidu.com Inc.?

IDG Technology Venture Investment Inc. and Oak Investment Partners certainly hope so. Following a $30 million round of venture capital, online advertising company Allyes Information Technology is planning an IPO on the Nasdaq exchange and eyeing acquisition candidates. "We believe that out of the Internet space, this will be the best received IPO next year," said Young Guo, general partner at IDG, which holds 40% of Allyes. Guo, who estimates the offering will come mid-year, added that companies the same size as Allyes tend to raise $80 million to $100 million in an initial public offering.

Source: Dow Jones VentureWire

For more information, please contact:
Howard Sholkin
howard_sholkin@idg.com
617-239-7882