BEIJING—In August, Internet entrepreneur Zhou Hongyi set out to capture a chunk of China’s $3.3 billion search market, an area so dominated by Baidu Inc. (BIDU +4.77%) that the company is often called the Google (GOOG +0.85%) of China.
Just three months later, Mr. Zhou’s New York-traded Qihoo 360 Technology Co. (QIHU +1.20%) has a roughly 10% share of searches, according to the company. Using its platform as an Internet portal and antivirus services provider, Qihoo 360 appears to be taking some share from Baidu, which has blocked some of its content from Qihoo’s search results.
Mr. Zhou—a slight 43-year-old former Yahoo Inc. (YHOO -0.98%) executive with a passion for guns and classical music—has also publicly criticized Baidu, arguing that the company’s dominance of search has resulted in a weak product that has too many advertisements. Some of China’s biggest Internet companies “are in a monopoly position, so those players aren’t good at innovation,” he said in an interview.