Sina's Tudou stake will help Weibo.com
By Ding Yining |
August 31, 2011, Wednesday
|
Print Edition
Print Edition
SINA Corp, operator of China's most popular microblogging site, said it has bought 9.05 percent in China's second largest video site Tudou as it seeks to improve the attractiveness of its Weibo.com site to lure more users.
Sina paid US$66.4 million for the stake in Tudou, according to a filing to the United States Securities and Exchange Commission.
"Sina's investment is 'financial in nature' and both parties are open to future cooperation possibilities, but Tudou will retain its independence," an official with Tudou's financial department said yesterday.
Sina is adding video, social-networking and electronic commerce to its Weibo.com website, which boasted more than 200 million registered users by the end of June, to attract users in the world's biggest Internet market.
"Online videos are the easiest way to attract advertisers, so it's a good deal to invest in Tudou," said Hong Bo, an independent analyst.
Earlier this month Tudou raised US$174 million after selling its shares at US$29 each. By the end of the second quarter of this year the website took 14 percent of the domestic online video market but it still lagged arch rival Youku's 23 percent.
Market watchers suggested Sina's Weibo.com is able to draw a large number of visitors to Tudou.
Sina paid US$66.4 million for the stake in Tudou, according to a filing to the United States Securities and Exchange Commission.
"Sina's investment is 'financial in nature' and both parties are open to future cooperation possibilities, but Tudou will retain its independence," an official with Tudou's financial department said yesterday.
Sina is adding video, social-networking and electronic commerce to its Weibo.com website, which boasted more than 200 million registered users by the end of June, to attract users in the world's biggest Internet market.
"Online videos are the easiest way to attract advertisers, so it's a good deal to invest in Tudou," said Hong Bo, an independent analyst.
Earlier this month Tudou raised US$174 million after selling its shares at US$29 each. By the end of the second quarter of this year the website took 14 percent of the domestic online video market but it still lagged arch rival Youku's 23 percent.
Market watchers suggested Sina's Weibo.com is able to draw a large number of visitors to Tudou.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
