, the largest video-sharing site in China (SAI 25 #22), took a $57 million investment from current investors IDG Technology Venture Investment, Granite Global Ventures and General Catalyst Partners, according to Pacific Epoch and the WSJ.
Tudou will use the funding for business operations, broadband servers, and to build its infrastructure for the Beijing Summer Games. Tudou is partnered with China Central Television to run a Web site for the Olympics this summer. The company has raised $28.3 million since 2005.
Of the three major video players in China (including YouKu and 56.com), Tudou has the largest market share. Estimates on Tudou’s market share vary from about a quarter of China’s online video market (Baidu’s estimate) to about half (Tudou’s claim).
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