Shanghai Oct 25 China's leading online video
website Tudou has hired Credit Suisse CSGN.VX and Deutsche Bank
(DBKGn.DE) for its initial public offering on the Nasdaq, with
hopes to raise over $100 million, sources said on Monday.
Tudou is hoping to list on the Nasdaq in the first quarter,
two sources with direct knowledge of the plan told Reuters. The
firm is hoping to raise between $100 million to $150 million.
Venture-capital backed Tudou, which competes with Youku in
China, is similar to Google's (GOOG.O) YouTube and Hulu. It
streams millions of online videos and original content daily and
allows users to share files.
Singapore state investment firm Temasek [TEM.UL] said in
August it had invested $35 million in Tudou, which means potato
in Mandarin. [ID:nSGE6740CJ]
(Reporting by Melanie Lee; Editing by David Chance)