China Yo stainless steel pipe fittings uku.com gets US$40 mln investment
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Dec. 23, 2009 (China Knowledge) - Chinese video website Youku.com has just obtained US$40 million from its latest round of financing, said Gu Yongqiang, CEO of Youku.com, yesterday.
The additional investments are all from existing investors, Gu said, adding that the funds will be used for professional media cooperation and web content creation. This round of financing has Youku.com's listing plans, but the company expects to go public within 18 months, said Gu.
Founded at the end of 2006, Youku.com has received total investments of US$110 million from private equity firms so far.
Youku.com currently has more than 1,500 cooperative partners and 350 advertising clients. It is expected to generate a total of more than RMB 200 million in revenue this year.
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