Tudou.com raises $57m in new funding

Online video-sharing website Tudou.com said it raised US$57 million in new funding, the Wall Street Journal reported. The firm did not name its investors, saying only that they included family and overseas venture capital funds in Singapore and the US. Including the most recent injection of funds, Tudou has completed four rounds of funding and raised a total of US$85 million. The firm’s chief financial officer said Tudou will use the money to improve its technology infrastructure and create a revenue-sharing system with content partners. The new round of funding suggests that investor enthusiasm for the online video space continues apace despite recent regulations requiring video-sharing sites to be owned or controlled by government entities.