The vertical search engine industry has entered a mature stage as its venture investment hit US$400 million, the Beijing Morning Post reported on December 4.

 

The industry developed quickly since its nascent stage in 2005. Acquisitions and investments in more than 100 vertical engine websites now total from US$300 million to US$400 million during 2006 to 2007, the newspaper reported.

 

Investors see a booming market in 20 of the business vertical search websites, such as the cqs.tootoo.com from Ninetowns Group Co Ltd. Yet Liu Jianguo, former Chief Technology Official from baidu.com, warned, that search engines are still under financial and technological pressures and they need more time to seek profits.

For more details, please read the full story in Chinese. (http://www.morningpost.com.cn/article.asp?articleid=139793)

(China.org.cn December 5, 2007)