2010-10-28 17:13

Chinese online video sites Youku.com and Tudou.com both plan to list on Nasdaq in the first quarter of 2011, aiming to raise $100-200 million, respectively, the China Business News cited sources as saying.

Tudou has raised $135 million from its five rounds of financing, including the $50 million from the fifth round led by Singapore's sovereign wealth fund Temasek this September.

Youku plans to file a formal IPO application before the end of November and has hired JPMorgan Chase & Co and Goldman Sachs Group Inc as its underwriters. Youku secured $40 million through its fifth round of financing in December 2009. By now it has raised $110 million in funds and $10 million in equipment loans.

So far, two Chinese online video sites have gone public, including Ku6.com and Letv.com. Ku6.com listed on Nasdaq at the end of 2009, and Letv.com listed on Shenzhen's ChiNext board in August.