Tudou's Public Offering Within Range, Temasek Already Owns 17%
According to a news article by Reuters, Tudou -- China's second largest video streaming company named after our favorite starchy, tuberous crop, the potato -- has gone public, and it's initial public offering is within the expected range.
This is a remarkable feat when you consider investor enthusiasm towards Chinese companies have somewhat died down, thanks to numerous accounting scandals.
However if Youku's amazing 87% growth since their December IPO is any indication, Tudou may not have much to worry about.
That is if their stock can somehow mirror their prowess in their native country, which saw them double their user base to 90.1 million in two years.
They were also reported to have raised their revenue, but at the same time increased losses.
The company also said that it doesn't have enough experience with U.S accounting rules, thus the unfavorable risk factors in its prospectus which cited "material weakness and a significant deficiency" in its internal financial controls.
Another interesting nugget found in the Reuters article was that funds affiliated with our very own Temasek Holdings controls 17% of Tudou.
For more details, click here (Via reuters.com)