Gary Wei Wang, CEO of Tudou Holdings, settled a lawsuit with his ex-wife over his shareholdings, clearing the way for the company to go public, the Journal reports.Tudou is one of the biggest video sites in China, one of the many “YouTubes of China” out there. Calling these sites YouTube clones is a bit of a misnomer–they started that way but are now full-fledged media companies, licensing and even producing shows like sitcoms and soap operas.
These sites have tremendous opportunities because unlike in the West where people are already used to watching most video on TV and cable, China’s emerging middle class is getting web video at the same time as TV.
Tudou filed to go public last year. It’s not clear whether the lawsuit from Weng’s wife was the reason why it’s not yet going public, but many observers think it’s at least part of it. Like Youku, it’s still unprofitable though.
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