In August 2014, iQiyi generated over 6.95 billion hours of viewing on its website.[11] In October, iQiyi participated in the Busan Film Festival, signing exclusive rights to nearly 100 South Korean titles.[12] On November 19, 2014, Xiaomi and Shunwei Capital invested $300 Million in iQiyi for about 10 percent to 15 percent of the site, while Baidu invested an additional $100 million and held about 80 percent.[13]