Chinese Site Tudou.com Looks To Bertelsmann For Inspiration
Former Bertelsmann executive Gary Wang, the CEO of Chinese online-video distribution platform Tudou.com, looks to his former employer for inspiration when he talks about the big dreams he has for his little company.
In a crowded landscape of big media conglomerates constantly trying to get into the Internet’s video industry, Wang sees Bertelsmann’s approach of targeted acquisitions as the way to survive.
Earlier this month Shanghai-based Tudou.com raised $50 million from an investor base including Temasek, the sovereign wealth fund of the Singapore government, in what was the investment firm’s first Chinese information technology deal.
Wang said the new round of funding, which brings Tudou.com’s total capital raised to $135 million, was just the latest advance in what will be a prolonged battle as the media industry consolidates.