Beijing time on September 26 morning news, according to Bloomberg News, informed sources, Baidu's video site iQIYI was first planned in the US IPO in 2018, when the valuation may exceed 8 billion US dollars. Informed sources said that Baidu will start negotiations with the investment bank, the highest valuation target of 10 billion US dollars. Baidu hopes to continue holding iqiyi through the binary stock structure after the IPO. However, the IPO plan is still in its early stage and the final valuation may be adjusted. iQIYI is the only Chinese video site authorized by Netflix. They need to obtain more funds to compete with platforms operated by Alibaba and Tencent. Baidu needs to buy and make more content to maintain its leading position in the video field. In accordance with the valuation of 10 billion US dollars, iQiyi is still much lower than Netflix, but it will exceed LeTV. Baidu's founder and chairman, Li Yanhong, gave up plans to purchase IJiyi’s control over US$2.8 billion in corporate value last year because he failed to reach an agreement on pricing and transaction structure. The transaction plan was also criticized by shareholder Acacia Partners for its low pricing. At that time, the research assessed that Iqiyi’s corporate value reached US$5.8 billion. iQiyi said in June this year that the company plans to share more data and revenues with its partners to enhance its platform status. For this news, iQiyi expressed no comment.