China Venture, 8/17/11
An industry source claims that Chinese internet company Sina (Nasdaq: SINA) has purchased a USD 40 mln stake in online video site Tudou, which is expected to list on the Nasdaq exchange this week.
According to the source, Sina's stake accounts for 4% of Tudou shares. Earlier rumors had claimed that Tudou's IPO was undersubscribed, and that Sina had at one point planned to acquire all of Tudou's assets.
Recent reports from Reuters' IFR said that Tudou's IPO had been subscribed several times over by investors from the US and Asia.