Left-handed e-commerce, right-handed search-After JD.COM, Tencent made another move and became the largest shareholder of search company sogou. According to the latest documents submitted by Sohu to the SEC, Tencent currently holds 45% of the shares of sogou Company, replacing Sohu and becoming the largest shareholder in sogou.
However, just like Tencent’s position in JD.COM, although it is the largest shareholder with a share ratio, Tencent has not won the right to speak of the company it invested in. Liu Qiangdong is still in power in JD.COM, and sogou’s largest voting right is still in Sohu’s hands.
According to the document data, as of June 30th this year, sogou held about 335 million common shares. Among them, Sohu shares held by Tencent, the largest shareholder, include about 6,757,900 shares of Class A common stock, about 65,431,600 shares of Class B common stock and about 79,368,400 shares of Class B common stock without voting rights, with a total shareholding ratio of about 45%.
It is worth noting that due to sogou’s A-share and B-share structure, most of the voting rights remain in the hands of Sohu, the former largest shareholder. Sohu holds about 131 million shares of Class A common stock in sogou, including 4,484,500 shares that may be repurchased by Sohu management and core cadres under certain conditions. As of June 30, Sohu holds about 39% of sogou shares.
In addition, Zhang Chaoyang, Chairman and CEO of Sohu Company, holds about 9.56% shares of sogou through PhotonG roupLim -ited, and the core backbone of sogou and Sohu holds about 19.4146 million shares of Class A common stock, accounting for about 5.8%.
However, regarding this news, Tencent, Sohu and sogou all said in an interview with Southern Reporter yesterday that they would not comment.
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Tencent helps sogou "not necessarily fight Baidu"
"This is a typical way of playing Tencent. It uses its huge user base and financial strength to gradually become an investment institution." Zhang Yi, president of Ai Media Consulting Group, pointed out in an interview with Nandu reporter that from Tencent’s point of view, at present, it is more to use the advantages of funds and users to make a strategic layout, and it is not fundamental to get the right to operate enterprises in the ecological chain. In August this year, Tencent increased its holdings in JD.COM to become the largest shareholder, but the right to speak and speak is still in the hands of Liu Qiangdong, the founder of JD.COM, and it is also taking this route.
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