Baidu's iQiyi drops in trading debut after raising $2.3b in US IPO

Baidu's iQiyi drops in trading debut after raising $2.3b in US IPO

People use smartphones in Beijing, China, on Saturday, March 7, 2015. Photographer: Tomohiro Ohsumi/Bloomberg

Shares in iQiyi Inc., a Chinese Netflix-style video streaming service controlled by search giant Baidu Inc., fell slightly in their trading debut after the company raised $2.25 billion in a U.S. initial public offering.

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