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Sogou intends to go to the United States IPO: After the search, open a new story of artificial intelligence
(Original Title: Sogou Aims for US IPO to Unveil New AI Narrative)
For years, rumors have swirled about Sogou's plans to go public. Now, those speculations have become a reality. Yesterday, Sohu released its Q2 2017 financial report, revealing that its subsidiary, Sogou, intends to file documents with the SEC and proceed with a US IPO. However, the exact number of shares to be issued and the total funds raised have yet to be determined. Shortly after the announcement, Sogou CEO Wang Xiaochuan confirmed the news in an internal memo, stating, "Search is a fiercely competitive field where Sogou has achieved阶段性success. The new chapter for us lies in artificial intelligence."
According to Sohu's financial report, Sogou generated $211 million in revenue for the second quarter, representing a 20% year-over-year increase and a 30% rise from the previous quarter. Notably, Sogou's mobile search traffic surged more than 50% year-over-year, driving overall search traffic growth by 24%. Looking at the broader picture, Sogou accounted for half of Sohu's total revenue, which stood at $461 million for the quarter, marking a 10% year-over-year increase. Wang Xiaochuan emphasized, "We continue to drive technological and product innovation around artificial intelligence." For the upcoming quarter, Sogou anticipates its revenue to range between $230 million and $240 million.
As previously disclosed, Tencent holds the largest stake in Sogou, with a shareholding ratio exceeding 45%. However, due to Sogou's AB stock structure, the majority of voting rights remain with the former largest shareholder, Sohu.
Following the search domain, Sogou's next major narrative will be artificial intelligence. Wang Xiaochuan believes, "The disruptive force of the future is artificial intelligence, and the crown jewel of AI is language processing. This is the most challenging yet valuable segment within AI. Sogou was born to understand language." He added, "We naturally possess the capability to seize this opportunity."
Wang Xiaochuan showcased Sogou's AI capabilities, highlighting how language-based AI technologies are integrated into products like search and input methods through features such as question answering, speech recognition, and translation. Voice input on Sogou's mobile keyboard now reaches 260 million uses per day. In terms of translation, Sogou emerged victorious in the Chinese-English translation category at the WMT (Workshop on Machine Translation) international competition in May. This technology enables Sogou to provide full-text Chinese translations of English search results. Additionally, in the mobile input method, Sogou supports real-time user translation of both voice and text inputs during chat scenarios.
Written by: Southern Reporter Bingru Li, Intern Jiaer Wu
In today's rapidly evolving tech landscape, Sogou stands at the forefront of innovation, leveraging artificial intelligence to redefine user experiences. As the company prepares for its US IPO, it underscores its commitment to pushing boundaries in AI-driven solutions. Wang Xiaochuan's vision is clear: Sogou aims not only to excel in search but also to pioneer advancements in natural language processing, making strides in fields like intelligent assistants, real-time translation, and personalized content delivery.
Sogou's journey to the global stage is just beginning, and with its robust financial performance and strong AI focus, the company is poised to captivate investors and users alike. The integration of AI across its products signals a bold step toward reshaping industries and creating smarter, more intuitive digital tools. As Sogou continues to innovate, it sets its sights on becoming a leader in the AI revolution, promising a brighter future for both the company and its stakeholders.
This transformation aligns with broader trends in the global market, where companies are increasingly prioritizing AI-driven strategies to stay competitive. Sogou's move to the US IPO not only marks a significant milestone in its history but also positions it as a key player in the AI race. With a strong foundation in search and a forward-thinking approach to AI, Sogou is well-equipped to navigate the challenges and opportunities ahead.