It’s been a good time for Youku. Coincidentally I visited the Youku office yesterday. Maybe it was my presence that helped Youku’s price rise? Probably not.
Yesterday Youku.com, listed on the NASDAQ as YOKU, got a nice 13% spike in their share price to $27.01, after speculation that they are in talks with Tencent to buy a piece of them. Tencent, the 3rd largest internet company by market cap in the world, is believed to be looking to invest in Youku to manage their online video business.
Youku is China’s largest video streaming website and recently has been extending its lead from rival, Tudou who went public only a few days ago. Despite leading the fierce online tv space, Youku is still trying to break even.
Youku’s share price has since lost much of that 13% gain and has last closed at US$24.26 or down 10.18%.