Chinese Online Video Rivals Youku & Tudou Merge In Deal Worth Over $1 Billion
After years of fierce competition, online video giants Youku and Tudou are joining forces to create a single service to be called Youku Tudou Inc. in a deal estimated to be worth over $1 billion.
After years of fierce competition, online video giants Youku and Tudou are joining forces to create a single service to be called Youku Tudou Inc. in a deal estimated to be worth over $1 billion. For those unfamiliar with the Chinese online video scene, Jon Russell of TheNextWeb describes the deal as being “akin to a merger between YouTube and VEVO.” Youku and Tudou are China’s biggest online video sites and together they account for over 35 percent of the Chinese online video market.
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