China Tech News — Now that Alibaba almost owns China’s top online video site, what does this mean for investors and company management at the acquired business? Announced this week right before the big e-commerce event of Singles’ Day, Chinese e-commerce group Alibaba and Internet video group Youku Tudou jointly announced that the two parties have reached an agreement, under which Alibaba will acquire Youku-Tudou in cash.
Times of India — BEIJING: Billionaire Jack Ma’s Chinese e-commerce giant Alibaba has announced an estimated $4.8 billion deal to take over video streaming service Youku Tudou as it seeks to spread its online empire. Alibaba is snapping up Youku Tudou, China’s equivalent to YouTube, in the latest of a string of acquisitions as it sets its sights far beyond its core eBay-style transactions business.
Tech in Asia — Alibaba today announced it has proposed to acquire China’s top video site company, Youku Tudou. It runs the Youku and Tudou sites, which combine user-generated content with licensed movies and TV series. Alibaba’s buy-out of Youku values the video site at about US$4.2 billion, according to earliest calculations. No official figure is provided by Alibaba today.
BEIJING: China will punish Internet companies including Tencent Holdings Ltd , Youku Tudou Inc and Baidu Inc’s iQiyi for hosting videos suspected of containing violence and pornography, which it said causes juvenile delinquency. The offending material is primarily Japanese animation on the video streaming websites of Tencent, Youku Tudou, iQiyi, Sohu.com Inc and Leshi Internet Information & Technology Corp Beijing (LeTV) , the Ministry of Culture said on its website on Tuesday.
Youku Tudou, one of China’s biggest online video portals, today revealed its first ever hardware products. They include a wifi router, set-top box, and Android tablet. The first batch of new devices is part of Youku’s new Cloud Entertainment business unit, which is the company’s fourth major unit after Youku, Tudou, and Heyi Pictures. The lattermost was launched in August as Youku’s in-house production studio.
According to Techweb, China’s Ministry of Industry and Information Technology (MIIT) has issued its fourth round of virtual telecom operator licenses. The licenses grant companies the right to operate a “virtual” telecom company, charging their own fees and offering their own plans but leasing their network from one of China’s three state-owned telecom companies (China Telecom, China Mobile, and China Unicom). The latest list of companies issued licenses includes Xiaomi, Youku-Tudou, and Haier.
Chinese smartphone maker Xiaomi announced that the company plans to invest USD10 million to purchase shares of Youku-Tudou from the secondary market, which will enable the playing of Youku-Tudou contents on Xiaomi devices. Xiaomi will also buy Youku-Tudou shares from the open market. The two parties will make a joint investment of an unknown sum to develop Internet application technologies for Youku-Tudou’s self-produced contents, joint production, distribution, and film and television program production.
Smartphone maker Xiaomi plans to buy a stake in Chinese video portal Youku Tudou. The dollar amount and size of the stake were not disclosed, but the companies said the deal will take place on the open market. Last week, Xiaomi pledged to invest US$1 billion to beef up its video content offerings. The deal with Youku means the two Chinese tech firms will jointly fund the production and distribution of online films and TV shows.
Chinese Internet video company Youku-Tudou announced that the company has added two new executives: Chief Product Officer Gu Sibin and Senior Vice President Li Jie. As chief product officer, Gu will be responsible for product strategy and operations to promote the group’s consumer-focused business. Gu is the first chief product officer since the founding of Youku-Tudou.
Youku Tudou Inc. (NYSE: YOKU), China’s leading Internet television company (“Youku Tudou” or the “Company”), today announced the addition of two members to its leadership team – Teddy Gu as Chief Product Officer, and Jerry Li as Senior Vice President. As Chief Product Officer, Teddy Gu will be responsible for the Group’s product strategy and operations, and drive the Group’s direct-to-consumer businesses. Teddy Gu has become Youku Tudou’s first CPO since its founding.
Youku (NYSE:YOKU), which claims it’s still China’s top video streaming site despite growing competition from half a dozen rivals, reached 500 million monthly unique visitors for the first time, the company said today in its Q2 2014 earnings report. The half billion figure represents viewers across the Youku and Tudou sites across all screens, from desktop to mobile to smart TVs.