Youku, and You Too, could make money with Chinese video production
Monday, December 13, 2010 at 7:43AM "Youku.com Inc., the Chinese online video company whose listing in New York last week was the hottest U.S. stock debut in years, will focus on domestic expansion and target mobile video users in China's growing market, Chief Executive Victor Koo said Monday.
Youku leads a Chinese online video market that analysts expect to grow strongly in the next few years as Internet penetration rises and advertisers spend more money online. But the company has yet to turn a profit and also faces intensifying competition.
Youku plans to invest in content and technology and to stay focused on China as the country's market is still growing, Mr. Koo said in an interview.
"In our mission we're not looking to go beyond the Chinese population at this point," he said, adding that Youku has no current plan to list outside the U.S. or to make acquisitions." To read the entire Wall Street Journal article, written by Owen Fletcher, regarding 'Youku, and You Too, could make money with Chinese video production", click here.
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