Tudou.com, one of the main online video service providers in China, has announced the completion of the fourth round of its financing and said that it will set up a branch in Chengdu within the year.
The four investors of Tudou.com are said to be IDG, General Catalyst, GGV and the Rockefeller family. The financing of US$57 million that Tudou.com received this time is reported to be the largest sum ever received by an online video service provider in China.
Coupled with the first three rounds of financing, Tudou.com has now totally gained US$85 million in investment. According to a representative from the company's PR department, the new investment will mainly be used on the company's corporate operations, bandwidth server and video sharing program development.
In addition, Tudou.com will set up a branch in Chengdu this year and the company has reportedly already begun to recruit talent, mainly in technology and marketing areas, for the new branch in Chengdu, which is expected to be the company's most important strategic city in the southwest part of China.