Sunday, October 18, 2015

Silicon Dragon Knew Them When - Youku Tudou Founders, VCs & Alibaba Too

Gary Wang, Tudou co-founder,
circa 2006
Silicon Dragon photo
It was 2005 in Shanghai at an Elements Fresh Café that I first met Tudou co-founder Gary Wang and his VC investor, Helen Wang, then with GGV Capital. Gary was only beginning to ramp up his online video sharing site with $8.5 million in capital, and was showing me how the site worked.
And it was in 2009 at a Xintiandi restaurant in Shanghai with Eric Li of Chengwei and heard his strategy of funding only potentially big winners in large market sectors that were emerging in China. Chengwei led a $40 million investment in online video site Youku in 2009.
Fast forward: in 2010, Youku went public on the NYSE, in 2011 Tudou listed on NASDAQ, in 2012 Youku acquired Tudou, and in 2014, Alibaba acquired Alibaba and Jack Ma’s Yunfeng Capital invested $1.2 billion for an 18.5% stake in Youku Tudou.
With Alibaba’s bid to purchase the remaining 85.5% of Youku Tudou in an all-cash deal valued at $5.1 billion and take it private  .... continue reading at Forbes.