Chinese Video Site Tudou Planning To Have A U.S. IPO
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Tudou.com, a Chinese video website is planning to have an IPO in the U.S. stock exchange according to an SEC filing. Tudou has filed for the symbol TUDO on the Nasdaq. The company is hoping to raise $120 million from the IPO.
In 2009, Tudou reported a loss of $21.6 million. The year before that they had a loss of $29.4 million. Revenues for 2009 was $16.9 million and revenues for 2008 was $4.7 million. They have 71.4 million registered users as of right now. Tudou launched their video platform in April 2005.