China’s Top Online Video Sites Headed for IPOs
Youku, China’s leading online video company, aims to raise $150 million on the New York Stock Exchange.
This signals a belief that Chinese consumers will want to watch Internet content for some time to come.
At a time when competition for the attention of China’s 420 million web surfers intensifies with No. 2 online video web site Tudou, Victor Koo, founder of Youku, filed the paperwork for its U.S. initial public offering.
In July, Youku signed pacts with South Korea’s CJ Entertainment and Hong Kong’s Media Asia to feature films from their archives online in an attempt to broaden its audience.