BEIJING, Sept. 19, 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 active user base, today
announced that it has appointed Ms. Wenjiang Chen as an independent director of the
Company. Ms. Chen replaces Mr. Gongquan Wang, who has resigned his
position from the Company's Board. Mr. Wang was a co-founder of CDH
Venture, a venture capital fund that invested in Qihoo 360 during
its startup phase, and had been a member of the Company's Board
since 2006.
Ms. Chen has been a partner at CDH Venture since January 2006. From February 2001 to December
2005, she served as an assistant vice president of Walden
International Investment Group. From February 2000 to January
2001, Ms. Chen served as an investment manager of China
International Capital Corporation Limited. Prior to that, Ms. Chen
was an investment manager of China Light Industry Fund from
August 1993 to April 1998. Ms. Chen obtained a bachelor's degree
in international economics from Renmin University of China in July
1992, and obtained a master's degree in business
administration from China Europe International Business School in
December 1999.
Mr. Hongyi Zhou, Chairman and
Chief Executive Officer of Qihoo 360, said, "We are pleased to have
Wenjiang Chen join our Company as a
member of the Board of Directors. Her extensive experience and
knowledge of the Chinese financial market and investment landscape
will prove invaluable as we push forward with our business
expansion strategy. We would also like to thank Mr. Wang for his
years of service and contribution to our company. We wish him the
best in his future endeavors."
About Qihoo 360
Qihoo 360 Technology Co. Ltd. is the No. 3 Internet company in
China as measured by user base. As
of June 2011, the Company had 378
million monthly active Internet users, representing a user
penetration rate of 92% 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, Qihoo 360 also provides users with secure access
points to the Internet via its industry leading Safe Browser and
Application Desktop. Qihoo 360 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 and the Business Outlook section
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.
For investor and media
inquiries, please contact:
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Qihoo 360 Technology Co.
Ltd.
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Tel: +86 10-5878-1574
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E-mail: ir@360.cn
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Christensen
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Mr. Christian Arnell
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Tel: +86 10-5826-4939
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E-mail: carnell@ChristensenIR.com
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SOURCE Qihoo 360 Technology Co. Ltd.