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Tudou CEO: Company Has Pocketed All of $85M Investment
Shanghai-based video site Tudou.com has received all of the money from its first four rounds of investment, a total of $85 million, reports China Securities Journal quoting Tudou.com CEO Gary Wang. Tudou.com has spent only a small part of its $57 million fourth-round funding, and the site's next target will be increasing ad revenue, said Wang.
Tudou.com announced fourth-round funding in April from existing investors IDG Technology Venture Investment (IDGVC), Granite Global Ventures (GGV) and General Catalyst Partners joined by a member of the Rockefeller family.
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