Tudou files for NASDAQ listing

Online video sharing site Tudou has submitted plans for a listing of American depositary shares on the NASDAQ Stock Market, the Wall Street Journal reported. The company, which said in its prospectus that its losses had narrowed by about 17% year-on-year to US$12.6 million in the first nine months of 2010, said it plans to invest in developing mobile apps and original video content. Tudou’s revenue, which comes from advertising sales, soared to US$113.2 million in 2009 from US$6.6 million in 2007. Tudou counts Singapore sovereign wealth fund Temasek Holdings and venture capital firm Granite Global Ventures among its current investors.