Baidu Inc. (NASDAQ: BIDU) today announced that Baidu Video, a wholly owned subsidiary of Baidu which operates a video portal focusing on professionally generated content (PGC), had completed a spinoff and become an independent company.  Simultaneous to its spinoff, Baidu Video has also competed a round of external financing totaling RMB 1 billion ($155 million).  

CEC Capital (formerly China eCapital) served as the exclusive financial advisor to Baidu Video in both its spinoff and capital raise.