The rumor about Tudou, the leading Chinese video-sharing site’s forth round fund is confirmed today. $53 $57 millions, the 3-year birthday gift is from IDG, GeneralCatalyst, GGV and Rockefeller family.

“The money will be used mainly for the company’s management and operation, bandwidth-consuming and revenue-sharing with video producers (the third parties and individuals are expected to have 10%-30% revenue share)”, said Zhiqi Wang, CFO of Tudou.

Gary Wang, founder and CEO of Tudou also said that Tudou was ready to start paying off the investment in 2008. Gary is confident with Tudou’s business model but he also said that it was still too early for IPO.

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Gang Lu

Dr. Gang Lu - Founder of TechNode. He's a Blogger, a Geek, a PhD and a Speaker, with passion in Tech, Internet and R'N'R.