Chinese Video Leader Tudou Raises $57M
Tudou, the leading online video site in China, said today it’s raised fourth-round venture funding amounting to $57 million. The majority of this round had already been reported, but today the company confirmed the entire amount, according to various reports.
The raise reportedly came from IDG Technology Venture Investment, Granite Global Ventures, General Catalyst Partners, and a member of the Rockefeller family, and brings Tudou’s total funding to $85 million over its three years of existence. That’s even more than Brightcove!
Tudou CEO Gary Wang claimed 45 million monthly uniques when we interviewed him in November. For more about Tudou see coverage and video of the panel Wang appeared on at our NewTeeVee Live conference.
Tudou last month reportedly received a shutdown warning from the Chinese government regarding pornographic and other banned content. Wang told Bloomberg that lawsuits over copyright violations are one of the things keeping the company from filing to go public. Tudou’s main competitors are Youku and 56.com.
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[...] And it looks like Tudou could extend its lead now that it raised another $57 million. Although the company did not disclose its investors, reports have said the money came from IDG Technology Venture Investment, Granite Global Ventures, General Catalyst Partners, and a member of the Rockefeller family. (IDG Ventures, Granite Global Ventures and JAFCO Ventures invested in a previous round.) Tudou, which began operations in April 2005, has now raised a total of $85 million. [...]
Tudou: Chinese Online Video Taking Off « Creative Capital on April 29th, 2008 at 6:12 am - Permalink