There have been major developments in the Chinese search engine market, as Qihoo and Sohu both enter new territory. According to information published by China's National Development and Reform Commission, the privatisation of China's second most popular search engine, Qihoo 360, has been approved. In a move worth 9.3 billion US dollars, Qihoo chairman Zhou Hongyi said that the deal was a “strategic choice after considering domestic and market conditions.” In the meantime, Sohu has just announced its lowest revenue amount since early 2014. The 10% drop in revenue from last year has been caused by the slowing of the growth of its Sogou search engine, China's third most popular. Sohu has experienced declining revenue for eight of the last nine quarters, but these numbers put them below their earlier forecast for the first time.
