Google has offloaded its 2 percent stake in Baidu, according to Reuters. Not too surprising, considering that the two companies have become bitter competitors. But the split isn't too painful for Google, who turned their US$5 million up front into US$63 million. I should have such a touch. Then I would fill a swimming pool with money and wallow naked in it all day long, surrounded by cheap floozies and all the Bollinger I could drink...

Sorry; faded out there for a minute. Anyway, also this week ChinaTechNews.com had a small piece (all their pieces are small) with the first quarter China search engine market share figures. According to Chinese market researchers Analysys:  Baidu gets 43.9%; Yahoo! China takes 21.1%. and Google  13.2%. Everybody else divides up the remaining 12% or so.

Maybe Google should have held onto that stake, given Baidu's apparently unassailable lead, although a recent Marketwatch story rings China Internet stock bubble alarms, noting that Baidu is still priced at --ahem-- 135 times expected 2006 earnings. Set the wayback machine for 1999, Sherman.

The Reuters story on the sale of the Baidu stake includes the following quote:
"We have disposed of our modest investment in Baidu," Google spokeswoman Debbie Frost confirmed. "It has always been our goal to grow our own successful business in China and we are very focused on that," she said in an e-mailed statement.
Indeed. Looking at those market share figures, Google might want to plow that profit back into marketing.

Also in Billsdue (briefly).

Previously:
Stupidity 2.0: The Internet bubble oozes over to China (Aug '05)
American Internet firms in Chinese trouble (Nov '05)

Bonus pop culture quiz: Who's talking to "Sherman"? (No Google or Baidu.)