China’s Tudou Files to Raise $120 Million in U.S. IPO
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Tudou Holdings Ltd., the operator of China’s second-largest online video website, will seek to raise as much as $120 million in a U.S. initial public offering, a filing with the Securities and Exchange Commission showed.
The video broadcaster didn’t disclose a price range or a date for the IPO. Shanghai-based Tudou will use the proceeds to expand its Internet bandwidth and upgrade its technology as it competes with larger rival Youku.com in the world’s biggest Internet market, the filing showed.