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Tudou Completes Third Round Of Capital Raising
Capital Today, David Orfao, General Catalyst Partners, Granite Global Ventures, IDG VC, Internet, JAFCO, KTB Network, Tudou.com, Wen Baoma
Editorial Summary
Chinese online video site Tudou.com announced on Monday that it has completed Series C funding in a round led by Chinese venture capital firm Capital Today and US venture capital firm General Catalyst Partners. Korean private equity company KTB Network also invested. Existing Tudou investors JAFCO, IDG Technology Venture Investment (IDGVC) and Granite Global Ventures also participated in the latest round. There are rumors that the round was for US$18 million. Capital Today's Wen Baoma and General Catalyst's David Orfao will join Tudou's board of directors. Currently nearly 20,000 videos are uploaded to the site daily, with 25 million videos streamed daily.
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