Tudou hoping for Nasdaq listing within three years

Video-streaming site Tudou.com is hoping for a Nasdaq listing in the next three years, Reuters reported. The site is working to maintain its one-third share of a market that could be worth US$1 billion by 2012. Tudou streams 100-150 million video clips a day, far less than YouTube’s one billion daily, but advertisers in China have been much more interested in using such sites to attract China’s 300 million internet users. Tudou Chief Executive Gary Wang said that while China’s online video advertising market is currently worth less than US$100 million, he expects it to grow to US$1-1.5 billion in three to four years. Tudou intends to break even next year and has already received US$85 million in backing from venture capital firms such as Granite Global Ventures and General Catalyst Partners.