Tudou's share price fell nearly 20% after 17 started trading, and then stabilized. As of 13 EST, its share price was $26.50 per share, down 8.62% from the issue price.
Wang Wei, CEO of Tudou.com, said in an interview on the morning of 17 that Tudou.com currently provides services to 40% of China netizens every month, and the funds raised by public offering will be used for the expansion and upgrading of future content and technology platforms.
Tudou was established in 2005 and has about 80 million registered users. The video content it provides mainly includes video programs produced or shared by netizens, video programs of content providers and programs invested by Tudou itself. Its income mainly comes from advertising revenue.
. According to the news, the IPO price is $29, which is in line with the reference range of $ 28-30. Issue 6 million American Depositary Receipts (ADS, 1ADS=4 common shares) and raise $65,438+$74 million. According to the issue price, the market value of Tudou is 822 million US dollars, and the stock trading code is "Tudo".
Regarding the successful listing of Tudou.com, Gu Yongqiang, the founder of Youku.com, said in Weibo yesterday morning: "Congratulations to Tudou.com on its successful listing! As entrepreneurs, we know what it feels like. There is an old saying in China: "What a good thing to grind, it will eventually turn out to be a positive result. "China's online video has a bright future, and listing is just a new beginning. Youku Tudou has both competition and cooperation, and we continue to work hard to promote the healthy development of the industry and make the cake bigger. In February last year, during the most difficult period of cracking down on piracy, Tudou and Youku announced an alliance to open their film libraries to each other and exchange the purchased solo drama resources for free.
According to the data, as of June 30th, 20001/year, Tudou achieved a total revenue of1780 million USD and a net loss of1204 million USD in the second quarter. Youku's total revenue in the second quarter was $30.6 million and its net loss was $4.3 million. From the perspective of revenue scale, Tudou still has a certain gap from Youku, but its valuation is more discounted than Youku. 16 In August, the total market value of Youku was US$ 2.724 billion, which was 3.3 1 times that of Tudou. According to Analysys International data, Tudou's market share at the end of the second quarter was 14%, lower than that at the end of 20 10/7%. At the same time, Youku's market share rose to 23%, while Sohu's video market share also rose to 13%. 20 1 March 2 12, youku co., ltd (NYSE: YOKU) (hereinafter referred to as "youku") and TUDOu co., ltd (Nasdaq: tudo) (hereinafter referred to as "tudou") * * * were both announced on March 1 1.
According to the terms of the agreement, from the effective date of the merger, all issued and circulated Class A and Class B ordinary shares of Tudou will be delisted, and each share will be converted into 7. 177 Youku Class A ordinary shares; Tudou advertisement will be delisted and converted into Youku advertisement 1.595 shares. Tudou ADS is equivalent to 4 shares of potato class b common stock, and youku ADS is equivalent to 18 shares of youku class a common stock. After the merger, Youku shareholders and American Depositary Receipts holders will own about 765,438+0.5% of the shares of the new company, and Tudou shareholders and American Depositary Receipts holders will own about 28.5% of the shares of the new company. The new company after the merger will be named Youku Tudou Co., Ltd., and Youku's American Depositary Receipts will continue to be traded on the new york Stock Exchange under the code YOKU. Gu Yongqiang, founder, chairman and CEO of Youku, pointed out: "We will create a new era of online video in China. Youku Tudou will have the largest user base, the most diversified video content, the most mature video technology platform and the strongest revenue conversion ability, which will bring users the best video experience. " Wang Wei, founder, chairman and CEO of Tudou.com, said, "Youku and Tudou share the same vision about the development prospect of China's video industry and how to provide users with the best video experience. This merger will further strengthen our leading position in the industry. Potatoes can bring well-known brands, many genuine movies and user-generated content, a huge user base, and extensive partnerships and professional experience in the field of mobile video to the new company. We believe that Youku Tudou can give users the best video browsing, uploading and sharing experience. We will grow with our advertisers, content providers and industry partners. " "After the strategic merger is completed, Tudou will retain the independence of its brand and platform, and help strengthen and improve the video business of Youku Tudou. Youku Tudou will promote the sound development of the video industry in China and make positive contributions to the improvement of the industry structure and economic benefits. " Gu Yongqiang emphasized that "this kind of cooperation will produce various synergies, bring genuine video content to a wider user base, and form more effective bandwidth infrastructure management." This strategic merger has been approved by the boards of directors of the two companies, but the completion of the merger still depends on the usual trading conditions, including the approval of shareholders of Youku and Tudou. Shareholders' representatives of the respective boards of directors of both parties promised to support the merger. The merger is expected to be completed in the third quarter of 20 12. On October 201110/0 19, letv and tudou jointly announced the establishment of a joint venture company with an initial investment of 3.
Buy and distribute the copyright of new drama, and build a video cooperation platform. Among them, LeTV and Tudou acquired 565,438+0% and 49% of the equity of the joint venture company respectively. At the same time, as the consideration for the acquisition of equity, LeTV and Tudou invested 5,654,380,000 yuan and 490,000 yuan in cash respectively. The board of directors of the new company consists of four people, with the chairman appointed by Tudou and the vice chairman appointed by LeTV. In addition, LeTV and Tudou * * * built a video service platform with this domain name. This platform server is provided by LeTV, which owns all the copyright contents before LeTV. Tudou pays 50 million yuan to LeTV every year to graft the content of this platform in official website and share the advertisements on the platform with LeTV. Users of LeTV and Tudou can enjoy each other's video content.