Trade Sohu.com Limited
Youku Tudou Inc., (formerly Youku Inc.) doing business as Yoko (Chinese: 优酷; lit. "Excellent/Cool"), is a video hosting service based in Beijing, China. It operates a subsidiary of Alibaba Group Holding Co., Ltd. On March 12, 2012, Youku reached an agreement to merge with Todo in a stock-for-stock deal, a new entity called Youku Todo Inc. It has more than 500 million monthly active users, with 800 million video views per day. Yoko is one of the best online video and streaming service platforms in China, along with iQiyi, Sohu, LeTV, Tencent Video, PPTV, 56.com and Funshion. However, Youku's dominance in the Chinese market has been overthrown by its baidu rival iQiyi.Youku now has streaming services for shows and movies that can be distinguished from YouTube. Youku was founded by Victor Ku (Gu Yongqiang), former president of Chinese internet portal Soho. The initial funding for the site came from 1Verge, a fund raised by Ko. A trial version of the site with a limited geographical scope was launched in June 2003 and the website was officially launched in December 2003. In 2007, the company received $25 million in funding from venture capitalists. In December 2009, the company announced that it had raised a total of $110 million in private equity financing. Major investors include Brookside (Bain) Capital, Sutter Hill Ventures, Maverick Capital, and Chengwei Ventures.The company initially confirmed user-generated content but has since shifted its focus to videos Professionally produced licensed from more than 1500 content partners. As of January 2010, Youku.com #1 in the Chinese online video sector has been classified according to internet standards provider CR-Nielsen, (bearing in mind that YouTube is banned in China). In 2008, Youku participated with MySpace in China. Later that year, Yoko became the only online video provider embedded in the Chinese edition of Mozilla Firefox.In January 2010, Youku and rival Todo announced the creation of a video streaming network, under which Youku and Tudou will license professionally produced video content.