Editorial Summary

Chinese user-generated video site Youku.com closed Series C investment of US$25 million on November 19, reports Sohu quoting Youku president Victor Koo. The investment was led by US venture capital firm Bain Capital subsidiary Brookside Capital Partners and the three existing Youku.com investors Sutter Hill Ventures, Farallon Capital Management and Chengwei Ventures, according to the report. Koo said the company plans to spend the investment on server groups, broadband service and site operation. Sutter Hill Ventures, Farallon Capital Management and Chengwei Ventures invested a total of US$12 million in the site in December 2006. Farallon Capital Management provided the company's initial round of US$3 million in March 2006.

Youku.com will become profitable in 2008, but has no plans to sell or go public, reports Sina quoting Victor Koo. Koo said videos are broadcast more than 70 million times a day on Youku.com.