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Xiaomi announces deal to invest in Youku Tudou
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YOUKU Tudou and Xiaomi announced cooperation today on video and entertainment on smart devices including smartphone, tablet and digital TV, marking an agreement between top content provider and device maker covering millions of users.
The cooperation includes co-production for net dramas and entertainment content by both sides and Xiaomi’s purchase for Youku Tudou’s shares.
It was a key part of Youku Tudou, China’s No. 1 Internet video firm with more than 500 million users, to launch a multi-screen strategy to offer contents for more screens covering handset, tablet, computer, TV and film.
Xiaomi appointed a new vice president on content management and announced to invest US$1 billion on content expansion.
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