Youku Announces Pricing of Follow-on Public Offering of Its ADSs

BEIJING, May 19, 2011 /PRNewswire-Asia/ -- Youku.com Inc. (NYSE: YOKU), the leading Internet television company in China ("Youku" or the "Company"), today announced that its follow-on public offering of 12,310,000 American depositary shares ("ADSs") by the Company and certain of its pre-IPO investors was priced at US$48.18 per ADS. Each ADS represents 18 Class A ordinary shares of the Company. In connection with this offering, the underwriters have been granted the option to purchase up to an aggregate of 1,800,000 additional ADSs from certain selling shareholders at the public offering price less underwriting discounts.

Youku will not receive any proceeds from the sale of the ADSs by the selling shareholders. The gross proceeds to the Company will be approximately US$400 million. Goldman Sachs (Asia) L.L.C. acted as the sole bookrunner, and Allen & Company LLC, Barclays Capital Inc., Piper Jaffray & Co. and Pacific Crest Securities LLC acted as co-managers for the offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on May 19, 2011. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the securities described herein, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering is being made only by means of a written prospectus forming a part of the effective registration statement. A copy of the prospectus related to this offering may be obtained by contacting Goldman, Sachs & Co., 200 West Street, New York, NY 10282, Attention: Prospectus Department (telephone: 212-902-1171; facsimile: 212-902-9316; e-mail: [email protected]).

About Youku

Youku.com Inc. is China's leading Internet television company. Our Internet television platform enables users to search, view and share high-quality video content quickly and easily across multiple devices. Youku, which stands for "what's best and what's cool" in Chinese, is the most recognized online video brand in China. Youku's American depositary shares, each representing 18 of our Class A ordinary shares, are traded on NYSE under the symbol "YOKU."

SOURCE Youku.com Inc.

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