In a filing made to the United States Securities and Exchange Commission on Monday, Chinese Internet company Sohu.com Inc. (NASDAQ: SOHU) said it will be acquiring from Alibaba Group the 10.88 percent share the latter is currently holding for online search operator Sogou.com.

According to the statistical data released by web analytics boutique CNZZ, Sogou surpassed Google late last year with a reported 7.67 percent market share and now second-largest search engine company in China.

Xiaochuan Wang, CEO of Sogou, wrote in an internal email to all employees that company had turned loss into profit ever since Q3 2011 and total revenues in Q1 2012 increased 184 percent to $23 million.

“Sogou will upgrade main software products for instance input method and browser in the coming months. Our future is very bright.” Wang also estimated in the end of the email that annual revenues in 2012 would be no less than $100 million.

Back in August 2010, Alibaba Group paid only  $15 million for the stake. Two years later, the majority stakeholder has to repurchase at the price of $25.8 million which is 72 percent higher. Most analysts consider Jack Ma, CEO of Alibaba, is the one who proposed this deal since privatization of Alibaba.com Ltd. and buying shares back from Yahoo! really burned a hole in his pocket.