SHANGHAI (Reuters) -
Video-sharing Web site Youku,
which is trying to position itself as China's next YouTube, has
tied up with News Corp-invested social networking site MySpace
China to target the local market.
The partnership is aimed at driving Internet traffic to
both Web sites and sharing online products, Youku Chief
Executive Victor Koo said in a statement on Friday.
Social networks such as MySpace and Facebook let users
share images, music, videos and blogs. By November last year,
Youku had completed three rounds of venture financing totaling
$40 million, including from Brookside Capital, Sutter Hill
Ventures, Farallon Capital and Chengwei Ventures.
Launched in December 2006, Youku has more than 100 million
daily video views, according to research firm
Nielsen/NetRatings.
MySpace China (http://www.myspace.cn) is a locally owned,
operated and managed company that has secured investment from
Rupert Murdoch's MySpace Inc, publisher IDG and China Broadband
Capital Partners LP, a fund operated by Edward Tian, the former
chief of China Netcom Group.
China, which had 210 million Web users at the end of last
year, has since overtaken the United States as the world's
biggest Internet market by number of users, Beijing-based
research firm BDA said on Thursday.
(Reporting by Sophie Taylor; Editing by Edmund Klamann)
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