|Gary Wang, Tudou co-founder, |
Silicon Dragon photo
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.