双语：爱奇艺称在美国IPO估值至少80亿美元
Baidu Inc’s iQiyi is targeting a US initial public offering as soon as in2018 that could value China’s most popular streaming video service at more than
$8 billion, two people familiar with the matter say.
据两位知情人称，百度旗下视频网站爱奇艺计划最早于2018年在美国首次公开募股(IPO)，这可能会使这个目前中国最受欢迎的流媒体视频服务网站届时估值超过80亿美元。
The company controlled by search giant Baidu is about to kick off
negotiations with banks and deal arrangers and is shooting for a valuation of as
much as $10 billion, the people said,.
百度将会启动与银行及投行的谈判，最高估值目标达到100亿美元。
Baidu wants to continue holding a controlling stake in iQiyi upon the IPO
via dual-class shares, the people said. The IPO process, however, is in its
early stages and the final valuation could change.
百度其希望在IPO后通过二元股票结构继续控股爱奇艺。但此次IPO计划尚处于早期阶段，最终估值仍未确定。
IQiyi, the only Chinese service that licenses shows from Netflix Inc, needs
to build up its war chest as it battles rival platforms run by Alibaba Group
Holding Ltd and Tencent Holdings Ltd.
爱奇艺是目前中国唯一一家获得Netflix内容授权的视频网站，其需要购买并制作更多视频内容，以面对阿里巴巴和腾讯旗下视频网站的竞争，以维持目前于在线视频领域的领先地位。
Baidu, which is also investing heavily in artificial intelligence and
autonomous vehicles, needs to buy and create more content to sustain its lead
among online video platforms, based on time spent.
百度也在人工智能和自动驾驶汽车大量投资，随着其不断的发展，它需要引入和制造更多的技术支持以维持其在在线视频平台上的领先地位。
At $10 billion, iQiyi will be valued at a fraction of Netflix’s but surpass
listed Chinese rival Leshi Internet Information & Technology Corp. Its IPO
would come after Baidu founder and Chairman Robin Li scrapped plans last year to
buy control of iQiyi at an estimated $2.8 billion enterprise value, failing to
reach an agreement on price and deal structure.That proposed transaction drew
criticism from shareholder Acacia Partners LP, which argued the price was too
low and cited research at the time valuing the business at $5.8 billion. Baidu
declined to comment on Tuesday.
爱奇艺100亿美元的估值虽然仅相当于Netflix的一小部分，但该数字将超过乐视网。百度创始人兼董事长李彦宏曾于去年放弃以28亿美元企业价值购买爱奇艺控制权的计划，原因是未能就定价和交易结构达成协议。这笔交易计划也因为定价过低而遭到股东Acacia
Partners的批评，当时的研究评估爱奇艺的企业价值达到58亿美元。周二百度未对此事进行评论。
Quality video is key to keeping users and raising advertising revenue from
some 30 million-plus paying subscribers. Tencent and Alibaba have both said
they’re committed to spending more for content: Tencent for instance has
splurged on Game of Thrones and National Basketball Association broadcasts.
Meanwhile, Baidu is slashing spending on peripheral services from food delivery
to travel to make room for its growing AI and content outlays.
视频质量是保证用户增加并带来3000万付费广告收入的关键。腾讯和阿里巴巴都表示，他们将在视频内容方面投入更多经费：比如腾讯在《权力的游戏》)和国家篮球协会节目中的极力宣传。与此同时，百度也正在削减从外卖到旅游等多元服务的支出，以便为其日益增长的人工智能和视频内容投入腾出更多的财政空间。
IQiyi said in June it’s in talks to share more data and revenue with
partners, including Alphabet Inc’s Google, to bolster its platform.
爱奇艺在6月表示，目前正在与包括Alphabet谷歌在内的合作伙伴进行合作以分享更多数据来支持其平台。
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