Chinese video website Tudou.com has announced that it has completed its fifth round of financing and has gained new investments of USD50 million, including USD35 million from Singapore-based Temasek Holdings.
Wang Wei, founder and CEO of Tudou.com, told local media that the financed capital will be mainly used for the development and updating of mobile terminals and the full exploration of wireless business in China. It will expand into "the full-media business" and further improve the experience of users.
Wang predicted that in the next five years, the wireless access to Internet videos with mobile devices will exceed the cable access with desktops across the world.
Statistics show that Tudou.com has completed five rounds of financing since it was founded on April 15, 2005 and the total financial capital has reached USD135 million.