Just one day after investing in a Japanese gaming company, China’s Qihoo (NYSE:QIHU) is splashing the cash yet again. This time Qihoo has put $25 million into the Brazilian startup PSafe, which makes free antivirus products for Windows.
antivirus is also Qihoo’s forté, so clearly Qihoo has decided there’s some partnership or knowledge value in the investment. Clearly Qihoo isn’t doing it for instant bucks, as PSafe is making no money at all from its free apps right now. TechCrunch notes that PSafe is busy building trust, not revenue, at this early stage.
PSafe says it has 20 million average monthly users right now, and it’s the only homegrown Brazilian software company in this space, up against major PC security names like Symantec and AVG.
Qihoo launched its own antivirus apps for Windows, Android, iOS, and Mac to the world this summer from a new English homepage, 360 Safe. Qihoo’s compatriot arch-enemy, Baidu, has made similar moves overseas with its own security apps. Indeed, Baidu has targeted Brazil with some web products as well, so perhaps Qihoo is gearing up to launch more apps and services, specifically in Portuguese, for the Brazil market.
PSafe’s total funding round, which was series C, was worth $30 million, with the other $5 million coming from existing investors Redpoint e.ventures and Pinnacle Ventures.
(Editing by Paul Bischoff)