BEIJING, April 7, 2011 /PRNewswire-Asia/ -- Qihoo 360
Technology Co. Ltd. ("Qihoo 360" or the "Company") (NYSE:
QIHU), the No. 3 internet company in China as measured by user base, today
announced that it has launched an open platform for Web Browser.
The open platform will enable third party developers to introduce
high-quality user-friendly browser extensions / plug-ins to Qihoo
360's massive browser user base.
The new open platform is the third platform of this kind that
the Company launched this year, following the successful
introduction of the open platform for group buy and the open
platform for applications. The initial phase of the new open
platform will focus on Qihoo 360's Speed Browser, which is
primarily based on Chrome core. The Company also announced a
RMB1,000,000 (US$152,900) cash award program for top
developers to attract and encourage broader participation of the
new open platform.
Mr. Xiangdong Qi, the president
and co-founder of Qihoo 360, commented, "The open platform for web
browser is a win-win solution for our users, for our partners and
for Qihoo 360. Through the open platform, our users will get access
to a large number of high quality browser extensions / plug-ins and
enjoy better online experience; our developer partners will have
the opportunity to reach Qihoo's massive user base; Qihoo 360's web
browsers will quickly build a large collection of user friendly
extensions and applications and enhance users' experience and
stickiness."
The Company has set up a strict screening process to select
high-quality extensions / plug-ins for the open platform and will
also selectively recommend the best and most popular ones to
browser users. To date, the open platform already has over 70
high-quality extensions and plug-ins, and the Company expects the
total number of extensions and plug-ins to grow rapidly with more
developers joining the open platform.
"The open platform for web browser is a key component of the
Company's open platform strategy. So far, Qihoo 360 has launched
open platform for web browser, group buy, web game, and
applications. The Company will continue to proactively execute the
open platform strategy to drive our long-term growth. We will focus
on our core strength in disruptive innovation while building a
large and prosper online eco-system with our partners to provide
broader coverage and deeper penetration across most internet
services and applications," Mr. Qi concluded.
According to iResearch, 360 Safe Browser is the second largest
web browser in China with 44%
market penetration as of January
2011, second only to Microsoft IE.
About Qihoo 360
Qihoo 360 Technology Co. Ltd. is the No. 3 Internet company in
China as measured by user base. As
of February 2011, the Company had 339
million monthly active Internet users, representing a user
penetration rate of 85.8% in China, according to iResearch. The Company is
also the No. 1 provider of Internet and mobile security solutions
in China as measured by active
user base, according to iResearch. Recognizing security as a
fundamental need of Internet and mobile users, Qihoo 360 offers
comprehensive high-quality Internet and mobile security solutions
free of charge. In addition, the Company also provides users with
secure access points to the Internet via its industry leading Safe
Browser and Application Desktop. The Company monetizes its massive
user base primarily through online advertising on its web assets
and through Internet value-added services on its open
platforms.
Forward-looking Statements
This press release contains statements of a forward-looking
nature. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. You can identify these forward- looking statements by
terminology such as "will," "expects," "believes," "anticipates,"
"intends," "estimates" and similar statements. Among other things,
the management's quotations contain forward-looking statements.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about Qihoo 360 and the
industry. Potential risks and uncertainties include, but are not
limited to: the Company's ability to continue to innovate and
provide attractive products and services to attract and retain
users; the Company's ability to keep up with rapid changes in
technologies and Internet-enabled devices; the Company's ability to
leverage its user base to attract customers for our
revenue-generating services; and the Company's dependence on online
advertising for a substantial portion of our revenues; and the
Company's ability to compete effectively. All information provided
in this press release is as of the date of the press release, and
Qihoo 360 undertakes no obligation to update any forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although Qihoo 360 believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that its expectations will turn out to be correct, and
investors are cautioned that actual results may differ materially
from the anticipated results. Further information regarding risks
and uncertainties faced by Qihoo 360 is included in Qihoo 360's
filings with the U.S. Securities and Exchange Commission, including
its final prospectus dated March 29,
2011.
SOURCE Qihoo 360 Technology Co. Ltd.