Tech & Science Huawei helps French search engine Qwant with 8 million euros from

16:05  15 june  2021
16:05  15 june  2021 Source:   t3n.de

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The French search engine Qwant, which has particularly prescribed privacy and privacy, has now drawn a convertible bond over eight million euros - by Huawei.

Qwant. © Qwant / SmartMockups / T3N Qwant.

search engines are there many, and in contrast to the market leader Google, most providers have to fight with financial problems and have to get external financiers on board.

Qwant takes convertible bonds from Huawei to

as the US newspaper Politico wants to learn, the French search engine Qwant has included convertible bonds of eight million euros to further maintain the business. The money comes from Huawei. According to the documents, the politico could see, Qwants CEO Jean-Claude Ghinozzi has already asked the shareholders on May 18 of this year for their consent to accept the money. It comes from Hubble, Huaweis VC-arm from Hong Kong.

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Qwant is partially funded from French taxpayers and is the president Emmanuel Macron particularly important. Also Margrethe Vestager, EU Commissioner for Competition, is a sponge of the search engine. Qwant should position itself as direct and above all European competition to Google and drive the EU's technology sector.

The numbers, however, speak a clear language: Qwant has loses losses in recent years, which were well above the sales. The convertible bond of Huawei also lies with eight million euros via Qwants's previous year's sales of 7.5 million euros.

Huawei and Qwant work for a long time

Already in March 2020 Huawei and Qwant had announced cooperation ; Because of the US sanctions against the Chinese company, Google services could no longer be used in all smartphones. Therefore, alternatives from which the search engine had a QWANT in some European countries as default search engine in Huaeweis P40 smartphone preset. In fact, according to insiders spoken with Politico, both companies have been to negotiate a cooperation since November 2018.

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