Youku, Tudou to list on Nasdaq in Q1 2011
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Chinese online video sites Youku.com and Tudou.com both plan to list on Nasdaq in the first quarter of 2011, aiming to raise US$100-200 million, respectively, the China Business News cited sources as saying.
Tudou has raised US$135 million from its five rounds of financing, including the US$50 million from the fifth round led by Singapore's sovereign wealth fund Temasek this September.
Youku plans to file a formal IPO application before the end of November and has hired JP Morgan and Goldman Sachs as its underwriters. Youku secured US$40 million through its fifth round of financing last December. By now it has raised US$110 million in funds and US$10 million in equipment loans.
So far, two Chinese online video sites have gone public, including Ku6.com and LeTV.com. The former listed on Nasdaq at the end of 2009, while the latter listed on Shenzhen's ChiNext board in August.
China's business press carried the story above on Thursday. China.org.cn has not checked the stories and does not vouch for their accuracy.
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