China’s second most popular online video site Tudou.com has hired Credit Suisse (CS.NYSE) and Deutsche Bank (DB.NYSE) to help it prepare for a US$100-150 million initial public offering on the Nasdaq exchange, Reuters reported, citing sources familiar with the matter. Tudou is hoping to list in the first quarter of 2011, according to the sources. Tudou is backed by venture capital firms including IDG China, GGV Capital and General Catalyst, and by Singaporean sovereign wealth fund Temasek. It competes with Youku and Ku6 (KUTV.NASDAQ). The company currently has 16% of the online video market in China, behind Youku with 20%. Tudou’s revenues – mostly derived from online advertising – have been growing but the company has still not posted a profit. Sources say Youku is also pursuing a listing in the first quarter of 2011.