Join us at TNW Conference 2022 for insights into the future of tech →

The heart of tech

This article was published on November 10, 2010

    Report: Tudou looking to raise $120 million in Nasdaq IPO

    Report: Tudou looking to raise $120 million in Nasdaq IPO
    Chad Catacchio
    Story by

    Chad Catacchio

    Chad Catacchio is a contributor writing on a variety of topics in tech. He has held management positions at a number of tech companies in th Chad Catacchio is a contributor writing on a variety of topics in tech. He has held management positions at a number of tech companies in the US and China. Check out his personal blog to connect with him or follow him on Twitter (if you dare).

    According to a SEC filing reported by The Street, Tudou, one of China’s two largest video-sharing sites, is planning a $120 million IPO on Nasdaq at an unspecified future date.

    The initial stock price was also not released, though it looks like Tudou (which means ‘potato’ in Chinese) will trade under the symbol TUDO. Launched in 2005, Tudou’s main competitor in Mainland China is Youku, and Tudou will partially use the funds raised in its IPO to further compete with China’s other major video sharing site as well as to develop new technologies.

    Tudou certainly is doing some interesting things. It did well with World Cup ads this summer, it has an online-only soap opera that it has produced, and as of last week, it’s iPad and iPhone apps were both at the top of the Chinese Apple App Store charts.

    When this IPO rumor was reported a few weeks ago, we reached out to an investor of Tudou, who predictably wouldn’t comment. That said, it would seem as if a US IPO for Tudou is now only a matter of time. We’ve been covering Tudou for some time here at The Next Web – read our coverage from 2008 here and here.