VC-backed video sites Youku, Tudou announce merger
Youku and Tudou, China’s leading online video companies - both of which are US-listed - will merge in a 100% stock-to-stock to transaction worth over $1 billion. The combined entity will be the country's biggest video platform with a more than 35% market share.
Competition is intense in the online video market, with Sohu, Baidu and Tencent all seeking to eat away at the two market leaders. This has led to increasing costs for internet bandwidth, content and mobile...
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