Press for Tudou
If there is one sector that has lived up to the China growth-story hype with truly big numbers, it is media and telecoms, with 450 million Web users, 800 million cell-phones users, and roughly 370 million TV households.
Tudou, the number two streaming video site in China, is planning to file an initial public offering to raise up to $150 million on the tech-heavy NASDAQ Composite stock market.
China's leading online video website Tudou has hired Credit Suisse and Deutsche Bank for its initial public offering on the Nasdaq, with hopes to raise over $100 million, sources said on Monday.
The highly expected "That Love Comes," a high quality made-from-web drama series produced by Tudou (China's leading online video websitewww.tudou.com) is debuting today October 15, 2010 on Tudou's main site. In China, Tencent QQ and PPStream are also joining the Internet-only debut online for the Chinese audience. More than 10 distribution partners in other 9 regions/countries across Asia Pacific will be airing "That Love Comes" throughout this fall. Tudou's first attempt in producing an original series has attracted wide commercial interest and transformed the company from just being a highly trafficked video website to a full media house expanding its production, distribution and publishing value offerings.