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Tudou.com Gets USD30mn in Fundraising Round V, Sources SayBEIJING, May 18, 2010 (SinoCast Daily Business Beat via COMTEX) -- Tudou.com, a leading online video sharing service provider in China, lured USD 30 million in venture capital from an investment consortium led by Citic Group this April, disclosed people in the know today. The fundraising, known as the fifth round kicked off by the Shanghai-based site, attracted the existing Tudou.com investors, said a source. In April 2008, Tudou.com won USD 57 million from a group of investors like International Data Group (IDG), General Catalyst Partners, GGV Capital, and the Rockefeller family, completing its fourth round of fundraising. However, Tudou.com declined to make a comment on the aforesaid capital injection. The company will use the fresh capital to buy video copyrights provided that the reported fundraising is the truth, pointed out market observers. In December 2009, Tudou.com's archrival Youku.com announced that it secured USD 40 million in its just-completed fifth round of fundraising, boosting the money from venture capital firms to USD 110 million. Source: www.enet.com.cn (May 18, 2010) |