Chinese Video Site Tudou Receives Another Big Round of $57 Million
Monday, April 28, 2008; 11:07 AM
The Chinese online video site Tudou, which has a huge repository of illegal versions of Hollywood and TV content (check Sidereel.com: half of the TV show links lead to Tudou as the host) has received another big round: a fourth round investment of $57 million from existing investors IDG Technology Venture Investment (IDGVC), Granite Global Ventures and General Catalyst Partners, and also included a member of the Rockefeller family, reports Pacific Epoch. Prior to this round, it had received $28.3 million since 2005. The new money culd be used, among other things, to build up Tudou's presence during the upcoming Beijing Olympics, where the site is an official video partner of the state-run China Central Television.
But remains to be seen if the Chinese government lets the nascent private online video industry develop in the country. It has already made some moves to regulate and fine some of the players in the industry, including Tudou. This WSJ story has more details on the regulatory issues.