Tudou Closes US$50 Million Series E Funding

USA - English

• USA - English

SHANGHAI, Aug. 5 /PRNewswire-Asia/ -- Tudou (http://www.tudou.com ) today announced it has closed a US$50 million Series E funding round.

Gary Wang, Tudou Founder and CEO said that the company is investing aggressively into expanding its main advertising supported web platform, and developing mobile/portable device video technology as key future growth drivers. Tudou also plans to integrate professional content with its "Orange Box" made-for-Internet original programming debuting the first Tudou drama series in fall 2010, as well as a large UGC (user generated content) archive of over 38 million videos. Tudou is transforming its website model into a fully operated media house.

Tudou's Series E funding round included US$35 million led by Singapore- based Temasek Holdings Pte. Ltd. (http://www.temasekholdings.com.sg ), and US$15 million from existing investors. In total Tudou has raised US$135 million in funding since the website went live on April 15, 2005, representing the largest investment to date for an online video business in China.

About Tudou.com:

Tudou.com is the leading online video platform in China, where users can upload, view and share video clips. Tudou went live on April 15, 2005 and has grown into one of the world's largest content delivery networks hosting 38 million videos, including amateur video-blogging and user-generated videos, professional content such as movie clips, TV series and music videos from our content partners, as well as made-for-Internet original programming produced by Tudou. Tudou has established extensive business relationships with over 2500 well-known content providers, content agents, traditional and new media, as well as mobile operators in the Asian region. With the brand slogan "Today's TV Network, Tomorrow's Tudou," the company's vision is building a video destination where people can find what they want to see, share what they create, and connect with like-minded people. Tudou never stops working toward this vision since 2005.

SOURCE Tudou.com