The online video streaming platform is majority owned by Baidu but counts Xiaomi as its second largest investor.
China-based video streaming service iQiyi, in which internet group Baidu is a majority investor, filed yesterday to raise up to $1.5bn in an initial public offering in the US.
Founded in 2010 and originally known as Qiyi, iQiyi runs an online video platform that combines a free YouTube-like service made up of user-generated content with a premium Netflix-like service that allows paying subscribers to view licensed and original content.
About 50.8 million subscribers have signed up to the platform,…
