Cheetah Mobile Signs Share Subscription Agreement

Today (April 30th) Jinshan Software announced that Cheetah Mobile (formerly Jinshan Network) has signed a share subscription agreement with Kingsoft, Baidu and Xiaomi. At the time of the Cheetah IPO, Kingsoft, Baidu and Xiaomi will jointly subscribe for up to 50 million U.S. dollars.

At the same time as the Cheetah IPO, Kingsoft, Baidu and Xiaomi will jointly subscribe for up to US$50 million in shares. Judging from the content of the announcement, Kingsoft will subscribe for a maximum of US$10 million worth of shares, Baidu subscribes for a maximum of US$20 million in shares, and Xiaomi subscribes for a maximum of US$20 million in shares.

It is reported that, in order to IPO, Jinshan Network was renamed Cheetah Mobile on March 25th, thus making a difference with Kingsoft. It is reported that Cheetah Mobile intends to list on the New York Stock Exchange and has submitted IPO application documents to the Securities and Exchange Commission (SEC). It plans to raise up to US$300 million in funds through IPO transactions.

In addition to Kingsoft, Baidu and Xiaomi, Tencent also owns 9% of Cheetah Mobile. According to analysis, from the list of cheetah shareholders, the cheetah shareholders have gathered almost all the big companies that had been in conflict with Qihoo 360. Of course, due to Cheetah browser and 360 browser product competition, Cheetah itself and Qihoo 360 conflict is not small. At this point, it can be said that Cheetah Mobile has established an anti-360 alliance. However, Qihoo 360 did not make any response.