BEIJING, May 14, 2014 /PRNewswire/ -- Qihoo 360 Technology Co. Ltd. ("Qihoo 360" or the "Company") (NYSE: QIHU), a leading Internet company in China, today announced its simultaneous signing and closing of definitive agreements to acquire controlling equity interests in MediaV, a leading precision advertising platform for PC and mobile Internet in China.
Founded in 2009, MediaV is a leading precision advertising and digital marketing platform in China. Its cloud-based big data analysis services enable customers to deliver advertising to target audience precisely.
"We are very excited to invest in MediaV", said Mr. Hongyi Zhou, Chairman and CEO of Qihoo 360, "Combining Qihoo 360's massive user base and traffic in PC and mobile Internet, with MediaV's industry leading digital advertising platform and cutting edge precision advertising technology, we believe we can build a stronger and more efficient online advertising eco-system and significantly enhance monetization of our platform products."
About Qihoo 360
Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) is a leading Internet company in China. The Company is also the number one provider of Internet and mobile security products in China as measured by its user base, according to iResearch. Qihoo 360 also provides users with secure access points to the Internet via its market leading web browsers and application stores. The Company has built one of the largest open Internet platforms in China and monetizes its massive user base primarily through online advertising and through Internet value-added services on its open platform.
Forward-looking Statements
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward- looking statements by terminology such as "will," "expects," "believes," "anticipates," "intends," "estimates" and similar statements. Among other things, the management's quotations contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Qihoo 360 and the industry. Potential risks and uncertainties include, but are not limited to: the Company's ability to continue to innovate and provide attractive products and services to attract and retain users; the Company's ability to keep up with rapid changes in technologies and Internet-enabled devices; the Company's ability to leverage its user base to attract customers for our revenue-generating services; and the Company's dependence on online advertising for a substantial portion of our revenues; and the Company's ability to compete effectively. All information provided in this press release is as of the date of the press release, and Qihoo 360 undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although Qihoo 360 believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by Qihoo 360 is included in Qihoo 360's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F dated April 25, 2014.
For investor and media inquiries, please contact:
Qihoo 360 Technology Co. Ltd.
Tel: +86-10-5878-1574
E-mail: ir@360.cn
Twitter: @QIHU_Official (https://twitter.com/QIHU_Official )
In the U.S.:
The Piacente Group, Inc.
Don Markley or Glenn Garmont
Tel: +1-(212) 481-2050
E-mail: qihu@tpg-ir.com
