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
SOURCE Qihoo 360 Technology Co. Ltd.