Opened at $24.41 each on the Nasdaq stock exchange, down 13.4% on their $29 asking price, not a perfect debut, but Tudou, the potatoes finally went public today, raising ~$146.6 million with an offering of 6 million American depositary.  We had a call with Gary Wang, CEO of Tudou.

“It’s been 4 years since we first met, and it’s really been a long way. ” when I asked Gary about his personal feeling after being through so much in past a few months, he said to me, “I am very excited and also very looking forward to the new journey for Tudou. Thanks to our investors who are always confident for us and to the team for their hard work.”

Tudou definitely missed the best time for IPO, and its market valuation is roughly only 1/3 of its competitor Youku which is listed back in last December. With less money in the pocket to burn, Tudou obviously faces a touch competition ahead. Gary admitted that but he said no one is going to use all the money raised and they just need spend the money on wherever it’s needed. He said the money would be used mainly on the content, the bandwidth and the platform upgrade.

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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.