Baidu (NASDAQ:BIDU) is one of the largest Chinese Internet giants along with companies like Sina (NASDAQ:SINA), Tencent and Alibaba, and it is also the biggest Chinese search engine. It offers a number of services like Baidu Maps, Baidu Knows, Baidu MP3 Search, Baidu Video Search, Baidu Space, Baidu Encyclopedia and Baidu Entertainment, Baidu Browser, Baidu Yi – most of which are copies of similar products by Google (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN) and other global Internet companies.
Baidu Unveils New Cloud Storage Service
Baidu launched a new cloud storage service called Baidu WangPan, which will compete with products such as Microsoft’s SkyDrive, Dropbox and the rumored Google Drive.  Baidu WangPan will offer 15 GB of free space and may generate revenue by charging for additional space used by heavy users. It will be compatible with Windows, Mac OS X, Android and iOS – the most popular desktop and mobile platforms. Baidu may also integrate this service with its Baidu Yi smartphone platform.
With these new offerings, Baidu is looking diversify its revenue streams beyond online advertising, which currently accounts for almost all of its revenues. We currently have a $140 Trefis price estimate for Baidu, which stands nearly 3% below its market price.Notes: