Prominent investments include Cotendo, Endeca, InfoBlox, Isilon, LifeSize Communications, PowerReviews, Qunar, Wintegra and Zappos.

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China search engine, Baidu (BIDU), said last week that it was acquiring CTrip rival Qunar for an undisclosed amount.

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According to Fritz Demopoulos, Qunar's co-founder, money raised from the firm's IPO will help pay for a big advertising campaign.

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On September 15th Baidu, China's largest search engine, announced plans to list the shares of Qunar, a popular Chinese travel search aggregator, in which it purchased a controlling stake in June.

ECONOMIST: A billion pairs of itchy feet

Other current investments include Square, UCWeb and Qunar.

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Besides mobile search, traffic growth is increasing in other areas that may be harder for Baidu to make much money from in the near term, such as online video player iQiyi and travel site Qunar.

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If Baidu is smart, it might be advised to invest in more existing companies like Qunar that already have a strong operating record, rather than trying to start its own new businesses, where its record is decidedly not so good.

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