Our mission is to make the complicated world simpler through technology. Founded in 2000 as a search engine platform, we were an early adopter of artificial intelligence in 2010 to make content discovery on the internet easier. We have also used “Baidu Brain,” our core AI technology engine, to develop new AI businesses. Today, Baidu is already a leading AI company with a strong Internet foundation. We are one of the very few companies in the world that offers a full AI stack, encompassing an infrastructure consists of AI chips, deep learning framework, core AI capabilities, such as natural language processing, knowledge graph, speech recognition, computer vision and augmented reality, as well as an open AI platform to facilitate wide application and use. We have put our leading AI capabilities into our products and services, as well as innovative use cases. Over the past two decades, we have built a diversified portfolio of products and services with large total market opportunities. Our portfolio of products and services is accessed by over one billion devices monthly, and our business spans across an ecosystem of hundreds of millions of users, millions of developers and hundreds of thousands of enterprises. Our flagship product, Baidu App, which is the No. 1 search-plus-feed app in China, reached 544 million MAUs in December 2020. Our usage of a strong technology foundation to support an open platform business model not only draws more participants into our ecosystem, but also adds richness and vibrancy to our ecosystem, strengthening the long-term prospect and vitality of our business overall. Baidu is composed of two segments: 1) Baidu Core, which accounted for over 70% of our revenue in the past three years, and 2) iQIYI, which made up our remaining revenue. Powered by AI, Baidu Core provides mainly online marketing services and non-marketing value added services, as well as products and services from new AI initiatives, which together powers us with three growth engines: Mobile Ecosystem: a portfolio of over one dozen apps, including Baidu App, Haokan and Baidu Post, which provides an open platform that aggregates a wide range of third-party, long-tail content and services through our AI building blocks and which helps communities connect and share knowledge and information. AI Cloud: a full suite of cloud services and solutions, including PaaS, SaaS and IaaS and uniquely differentiated by our AI solutions. Intelligent Driving & Other Growth Initiatives (OGI): our growth initiatives include intelligent driving (self-driving services, including HD Maps, automated valet parking and autonomous navigation pilot, intelligent electric vehicles and robotaxi fleets), as well as Xiaodu smart devices powered by DuerOS smart assistant and AI chip development. Baidu was listed on the NASDAQ National Market (later renamed the Nasdaq Global Market) since August 2005, and was dual-listed on the Stock Exchange of Hong Kong Limited (SEHK) since March 2021.
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