Chinese Video Site Tudou Receives Another Big Round of $57 Million
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.
SEE ALSO: Chinese Video Site Tudou Secures $19 Million Funding And Introduces Ad Platform
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.
Posted In: Money, M&A & Venture Capital, Venture Capital, Social Media, Video, Countries, Asia, China, general catalyst partners, ggv capital, idg technology venture investment, tudou
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