SOGO), a Chinese search engine rival of Baidu (BIDU) and Alibaba Group (BABA)-backed ShenMa, on Friday filed to go public in the U.S.
While Sogou’s initial filing said it aims to raise up to $600 million, management has previously talked about an IPO raising $4 billion to $5 billion.
Sohu (SOHU) is Sogou’s controlling shareholder while social media giant Tencent Holdings (TCEHY) also owns a stake. Sogou’s relationship with Tencent is key, given the popularity of its WeChat social media app, analysts say.
In its IPO filing, Sogou said it is the second largest search engine by mobile queries in China, according to iResearch. A Bloomberg report in May said Sogou is…