Press for Tudou, China’s second-largestonline video website, plans an initial public offering “soon”to raise funds to compete against in the world’sbiggest Internet market.

Faced with limited and pricey TV options, multinational marketers are flocking to popular online video sites to develop branded entertainment series for China, a market in which the most desirable consumers are likely to be online searching for content rather than watching the communal family TV set.

China's leading video website Tudou( ) announces the open beta of its mobile video technologyusing HTML5 and HTTP live streaming enabling consumers' full access of itsover 40 millions videos on the web repository. The break-through coretechnology "real time video trans-coding" is applied on major mobile platforms,now in open beta for Symbian, Andriod, Windows Mobile, and in closed beta foriPhone and iPad. Globally Tudou is the first video website rolling out realtime video trans-coding access to its complete video library.

Former Bertelsmann executive Gary Wang, the CEO of Chinese online-video distribution platform, looks to turn itself into a sizable media company through acquisitions. In a crowded landscape of big media conglomerates constantly trying to get into the Internet's video industry, Wang sees Bertelsmann's approach of targeted acquisitions as the way to survive.