Zhou Hongyi, CEO of Qihoo 360 Technology Co. Ltd., delivers a speech during the China Internet Security Conference on Aug. 16, 2016, in Beijing, China. (Photo : Getty Images)
Qihoo 360, one of China’s largest security software providers, has launched the Wukong security algorithm. This will help website administrators to fight cyberattacks on websites and keep users’ details private.
The company initiated their business by selling third-party antivirus software, then transitioned to provide their own products free of charge using the freemium business model. This is a pricing strategy wherein a product is provided free of charge but money is charged for extra features and functionality.
They currently have antivirus software both for the PC and mobile. They also developed a secure mobile browser, a mobile OS and a mobile assistant application.
They have also launched several search engines, wherein they have been involved in various anti-competition laws. They have been involved with lawsuits against Tencent, and other companies such as Baidu, Emiage and Sougou.
The company had an estimated revenue of $11.42 billion as of Q1 2014.
Its Internet security products had 496 million users, while its mobile antivirus had 641 million users as of Q2 2014.
Last July, it is reported that Qihoo 360 bought most of Opera Software, which is known for its famous Web browsers, for $600 million.
Zhang Xiangzheng, a security specialist at Qihoo 360, said about the new security algorithm: “Some search engines or browsers have been seriously affected by website attacks in the past. For example, hackers have tampered with Wb addresses, changing them to gambling or pornographic sites and luring netizens in.”
He added: "The majority of websites targeted in this way have been those of governmental departments and educational institutes. Such attacks have affected the reputation of some browsers and may present potential security risks for users. The new algorithm was designed to prevent this.”
He said that the software could reduce the possibility of online users visiting hacked websites by up to 70 percent.
