Youku Tudou Inc. ADS (NYSE:YOKU)

BEIJING, April 5, 2016 /PRNewswire/ -- Youku Tudou Inc. (YOKU), a leading multi-screen entertainment and media company in China ("Youku Tudou" or the "Company"), today announced the completion of the  merger with Ali YK Subsidiary Holding Limited ("Merger Sub"), a wholly owned subsidiary of Ali YK Investment Holding Limited ("Parent"), pursuant to the previously announced agreement and plan of merger dated November 6, 2015 (the "Merger Agreement"), among the Company, Parent, Merger Sub and, solely for purposes specified therein, Alibaba Investment Limited. As a result of the merger, the Company ceased to be a publicly traded company and became a wholly owned subsidiary of Parent.

Under the terms of the Merger Agreement, which was approved by the Company's shareholders at an extraordinary general meeting held on March 14, 2016, each of the Company's ordinary shares issued and outstanding immediately prior to the effective time of the merger, other than (a) Class A ordinary shares owned by Parent, (b) ordinary shares owned by the Company or its subsidiaries, (c) ordinary shares owned by shareholders who have validly exercised and have not effectively withdrawn or lost their dissenter rights under the Cayman Islands Companies Law, and (d) ordinary shares reserved (but not yet allocated) by the Company (including ordinary shares held by Citibank, N.A. in its capacity as ADS depositary) for issuance and allocation upon the exercise of any option or restricted share unit issued under the Company's share incentive plans (ordinary shares described under (a) through (d) above are collectively referred to herein as the "Excluded Shares"), was cancelled and ceased to exist in exchange for the right to receive one eighteenth of US$27.60 in cash per share without interest, and each American depositary share ("ADS", each representing eighteen Class A ordinary shares) issued and outstanding immediately prior to the effective time of the merger (other than any ADS that represents Excluded Shares) represents the right to receive $27.60 in cash per ADS without interest (less a cancellation fee of up to $5.00 per 100 ADSs (or any fraction thereof)), in each case, net of any applicable withholding taxes.

Registered shareholders entitled to the merger consideration will receive a letter of transmittal and instructions on how to surrender their share certificates in exchange for the merger consideration and should wait to receive the letter of transmittal before surrendering their share certificates. As to ADS holders entitled to the merger consideration, payment of the merger consideration will be made to ADS holders promptly after Citibank, N.A., the Company's ADS depositary, receives the merger consideration.

The Company also announced today that it requested that trading of its ADSs on the New York Stock Exchange ("NYSE") be suspended. The Company requested NYSE to file a Form 25 with the U.S. Securities and Exchange Commission (the "SEC") notifying the SEC of the delisting of its ADSs on NYSE and the deregistration of the Company's registered securities. The deregistration will become effective 90 days after the filing of the Form 25 or such shorter period as may be determined by the SEC. The Company intends to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, by filing a Form 15 with the SEC. The Company's obligation to file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will terminate once the deregistration becomes effective.

BEIJING, Feb. 29, 2016 /PRNewswire/ -- Youku Tudou Inc. (NYSE: YOKU), a leading multi-screen entertainment and media company in China ("Youku Tudou" or the "Company"), today announced that Institutional Shareholder Services Inc. ("ISS") and Glass Lewis & Co., LLC ("Glass Lewis") have recommended that Youku Tudou shareholders vote FOR, among other things, approval of the agreement and plan of merger, dated November 6, 2015 (the "Merger Agreement"), among the Company, Ali YK Investment Holding Limited ("Parent"), Ali YK Subsidiary Holding Limited ("Merger Sub"), and, solely for purposes specified therein, Alibaba Investment Limited, the plan of merger and the transactions contemplated thereby, including the Merger (as defined below).

ISS and Glass Lewis are leading independent international proxy advisory firms and their voting analyses and recommendations are relied upon by thousands of major institutional investment firms, mutual funds and fiduciaries throughout the world. 

Pursuant to the Merger Agreement, Merger Sub will be merged with and into the Company with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent (the "Merger"). Upon completion of the Merger, the shareholders of Youku Tudou, other than the current investment entity controlled by Alibaba Group, will have the right to receive US$27.60 per American Depositary Share ("ADS", each representing 18 ordinary shares of Youku Tudou) in cash.

The Company's extraordinary general meeting of shareholders (the "EGM") to consider and vote on, among other things, the Merger Agreement, the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands (the "Plan of Merger") and the transactions contemplated thereby, including the Merger, will be held on March 14, 2016 at 10:00 a.m. (Hong Kong time), at the 42nd Floor, Edinburgh Tower, The Landmark, 15 Queen's Road, Central, Hong Kong.

Third Quarter 2015  Financial Results

• Net revenues were RMB1.85 billion (US$291.8 million), a 62% increase from the corresponding period in 2014². Non-GAAP³ net revenues were RMB1.70 billion (US$267.6 million) in the third quarter of 2015, a 54% increase from the corresponding period in 2014.
• Non-GAAP basic and diluted loss per ADS for the third quarter of 2015 amounted to RMB1.62 (US$0.25) and RMB1.62 (US$0.25), respectively.

Youku Tudou, Inc. (NYSE: YOKU), a leading multi-screen entertainment and media company in China ("Youku Tudou") and Mirriad Advertising Ltd, a global leader in native, in-video advertising, have entered into a long-term exclusive collaboration arrangement in China, the world's second-largest advertising market.

In this alliance, Youku Tudou will connect Chinese and international brands with Mirriad's award-winning technology on its platform, enabling these brands to reach China's fast-growing consumer base through digitally embedded brand advertising in highly popular premium original content. China continues to be one of the most attractive markets for consumer brands, as it is expected to be the world's largest retail market by 2018^[i], while three-quarters of the urban population is projected to qualify as middle-class by 2022^[ii].

Mirriad's patented technology will offer Youku Tudou a vast number of new, premium advertising opportunities within its entertainment and media ecosystem (by way of ad units featuring brand integrations inserted after the content is shot). Mirriad's patented NIVA (native in-video advertising) technology enables advertisers to digitally insert their brands into video content through products, signage, video and other branded assets at scale. Through the new collaboration arrangement, Youku Tudou will utilize Mirriad's suite of marketplace applications to create new, prime ad inventory immediately at scale, providing content owners and distributors with editorial control over brand integrations and overall ad operations.

"We are pleased with this exclusive partnership, the first of its kind in China and at the cutting edge of innovative trends in advertising. Working with an industry leader such as Mirriad allows us to further our efforts of placing digital advertising directly into content; empowering advertisers and content owners to enhance relevance, context and effectiveness without detracting from the narrative," said Edward Su, Chief Operating Officer, Youku Tudou.

Mark Popkiewicz, CEO, Mirriad, agreed, "We look forward very much to collaborating with Youku Tudou to bring this technology to China for the first time. This agreement is not just strategically significant to us - it paves the way for advertisers to benefit from NIVA technology on one of the world's largest distribution platforms and sets a global precedent. We anticipate that our work with Youku will provide the foundation for a new and exciting era of in-video advertising across the globe."

"The Chinese market offers immense opportunities and challenges for brands looking for the best ways to reach its highly desirable consumer base," said Michael Rees, Asia-Pacific Vice President, Mirriad. "It is no secret that the Chinese market has its own uniqueness which makes finding the best local partner all the more crucial, and we are delighted that our digital technology will enable Youku Tudou to offer innovative advertising opportunities to brands at scale. Research shows that in-video advertising is twice as likely to be recalled as traditional forms such as pre-roll, and it offers a seamless experience for the consumer.^[iii] Everyone wins: the viewer, the advertiser, the content creator and the channel."

The first Mirriad campaign on Youku appears within talk show Life & Fate and features electronics giant Samsung as the inaugural brand to capitalize on this new opportunity. The campaign launched on Monday 19^th October and features Samsung throughout 6 episodes over a 2-week period.

This announcement builds on Mirriad's global strategy of partnerships with Universal Music Group (UMG) the global music leader, Havas, the multinational advertising and Public Relations company, and Cheil Worldwide, a leading South Korea-based marketing solutions company.

BEIJING, October 16, 2015 /PRNewswire/ -- Youku Tudou Inc. (NYSE: YOKU), a leading multi-screen entertainment and media company in China ("Youku Tudou" or the "Company"), today announced that its Board of Directors (the "Board") has received a nonbinding proposal, dated October 16, 2015, from Alibaba Group Holding Limited ("Alibaba") for a "going private" transaction in which it would acquire all of the outstanding ordinary shares of the Company, including ordinary shares represented by American depositary shares ("ADSs," each representing 18 ordinary shares of the Company), that are not owned by Alibaba for US$26.60 per ADS in cash, subject to certain conditions (the "Transaction"). The offer price set forth in the proposal letter represents a premium of approximately 30.2% over the closing price of the ADSs as quoted by the New York Stock Exchange (the "NYSE") on October 15, 2015, the last trading day prior to this announcement, and a premium of 44.5% to the volume-weighted average closing price of the ADSs as quoted by the NYSE during the last three months.

In connection with the proposal letter, certain shareholders of the Company, including Victor Koo, the Company's founder, chairman and chief executive officer, Chengwei Capital and various entities affiliated with them have entered into a Support Agreement with Alibaba, dated October 16, 2015, pursuant to which such shareholders have agreed to, among other things and solely in their capacity as shareholders of the Company, vote their shares of the Company in favor of the Transaction in accordance with the terms of the Support Agreement.

According to the proposal letter, Alibaba intends to fund the consideration payable in the Transaction with its cash on hand.

The Board has formed a special committee consisting of two independent disinterested directors, Mr. Jonathan Jia Zhu and Mr. Jixun Foo, to consider the Transaction. The special committee will retain independent legal and financial advisors to assist it in this process.

The Board cautions the Company's shareholders and others considering trading in its securities that the Board has just received the proposal letter and no decisions have been made with respect to the Company's response to the Transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.

BEIJING, Sept. 15, 2015 /PRNewswire/ -- Youku Tudou, Inc. (NYSE: YOKU), a leading multi-screen entertainment and media company in China ("Youku Tudou" or the "Company"), announced today that it has entered into a content licensing agreement with Paramount Pictures that will bring more than a hundred top titles from Paramount Picture's film library to Youku Tudou. Popular franchises and titles such asTransformers, Shrek, Star Trek, Mission: Impossible and Forrest Gump will be viewable through Youku Tudou's subscription service and select future Paramount releases will be available through TVOD.

Youku Tudou's subscription service currently offers a wide selection of content from both foreign and domestic studios. More licensed content as well as Youku Tudou web-native content will be added on an ongoing basis, continually enriching the value proposition of the Company's subscription services.

"The consumer-driven demand for premium online services in China is growing rapidly. With top branded content such as Paramount Picture's array of films, our commitment to enhancing our subscription services to create a premium experience and drive consumer-based revenue continues in earnest," said Victor Koo, Chairman and CEO of Youku Tudou.

Second Quarter 2015 Financial Results

Net revenues were RMB1.61 billion (US$259.6 million), a 57% increase from the corresponding period in 2014[2]. Non-GAAP[3] net revenues were RMB1.51 billion (US$244.3 million) in the second quarter of 2015, a 58% increase from the corresponding period in 2014.

Basic and diluted loss per ADS, each representing 18 Class A ordinary shares of the Company, for the second quarter of 2015 amounted to RMB1.76 (US$0.28) and RMB1.76 (US$0.28), respectively. Non-GAAP basic and diluted loss per ADS for the second quarter of 2015 amounted to RMB1.13 (US$0.18) and RMB1.13 (US$0.18), respectively.

"I am very pleased that once more we delivered accelerated and increasingly diversified topline growth in the second quarter, driven by robust consumer business development and supported by healthy advertising revenues. Our revenue diversification through consumer business is successful and based on progress driven by our business unit reorganizations and management team additions. Meanwhile, with nearly half of advertising revenues coming from mobile, we have achieved broad adoption of mobile advertising by domestic and international advertisers alike," said Victor Koo, Chairman and Chief Executive Officer of Youku Tudou. "We expect these positive trends, reinforced by our clear growth strategy and improving business economics, to continue during the second half of this year."

Dele Liu, President of Youku Tudou, added, "We continued to significantly increase web-native content, which is one of the key growth pillars driving our business development this year, in addition to accelerated topline growth and revenue diversification. More specifically, we are creating cross-domain synergy for high quality IPs taking the forms of web series, online game, and movies, leveraging our large and growing user base and high quality traffic as measured by user time spent and user engagement."

Business Outlook

For the third quarter of 2015, the Company expects non-GAAP net revenues will be between RMB1.69 billion and RMB1.78 billion, with advertising net revenues contributing between RMB1.34 billion and RMB1.40 billion. This forecast reflects the Company's current and preliminary view, which is subject to change.

BEIJING, June 5, 2015 /PRNewswire/ -- Youku Tudou, Inc. (NYSE: YOKU), China's leading Internet television company ("Youku Tudou") would like to provide clarification on certain facts referenced in a press release issued on PRNewswire on June 2, 2015 in relation to its business relationship with Disney. The press release stated that the two companies had formed an exclusive online marketing partnership in China for the Marvel collection of movies and TV series. Youku Tudou would like to clarify that while it has worked with Disney since 2013 on numerous online marketing initiatives in China pertaining to the Marvel collection of movies and TV series, no exclusive marketing deals or arrangements have been signed or concluded by the two companies.

BEIJING, June 2, 2015 /PRNewswire/ -- Youku Tudou has partnered with Disney to be the exclusive online movie marketing platform in China for its Marvel collection of movies and TV series. This cooperation will see the popularity of Disney's Marvel brand and Youku Tudou's position as the #1 online video platform to drive online marketing through promotion of trailers, online ticketing, live events and original programming dedicated to silver screen movies.

Youku Tudou's strength as the leading online movie marketing platform in China comes from its market position. Leveraging its 500 million unique monthly users across screens, marketing efforts are able to disseminate across Youku Tudou's media and entertainment ecosystem resulting in greater audience impact than traditional offline movie advertising. Disney and Marvel titles resonate with Youku Tudou's audience with over 530 million cumulative views of titles across movies, television series, trailers, Youku Tudou original productions, and live-streaming.

Online marketing efforts contributed to boosting the box office revenue of Avengers: Age of Ultron, Guardians of the Galaxy and in the case of Captain America: The Winter Soldier, to almost 800 million, compared to 80 million RMB of the previous installment of the franchise in China. The trailers and Youku Original productions for Captain America: The Winter Soldier and Guardians of the Galaxy have over 41 million cumulative views with over 15.8 million combined movie VOD views on the Youku Tudou Platform. The Avengers: Age of Ultron trailers and Youku Original productions have received over 25.7 million cumulative views with the movie currently in theaters.

"We are committed to expanding our media and entertainment ecosystem by working with strong partners. These partnerships, like the one with Disney, are multifold and give Youku Tudou the opportunity to use its strengths to further its business model and drive future revenue streams through high-quality content, innovative marketing efforts, and merchandising channels," said Victor Koo, Chairman and CEO of Youku Tudou.

First Quarter 2015  Financial Results

• Net revenues were RMB1.14 billion (US$183.8 million), a 47% increase from the corresponding period in 2014[2]. Non-GAAP[3] net revenues were RMB1.06 billion (US$170.4 million) in the first quarter of 2015, a 51% increase from the corresponding period in 2014.
• Non-GAAP basic and diluted loss per ADS for the first quarter of 2015 amounted to RMB2.49 (US$0.40) and RMB2.49 (US$0.40), respectively.

"The first quarter was marked by solid progress in the three key growth pillars that drive our business development for this year: accelerated topline growth, revenue diversification, and significant ramp up of web-native content. We believe this clear growth strategy will improve our business economics going forward," said Victor Koo, Chairman and Chief Executive Officer of Youku Tudou. "From a more strategic perspective we note that multi-screen video has converged with neighboring industries, notably the pan-entertainment and media sectors, making us a strategic property and partner and positioning us amidst a much bigger growth opportunity going forward."

Dele Liu, President of Youku Tudou, added, "We have aggressively stepped up our investments in content this year across all categories, especially in original content, PGC and UGC, to enhance our web-based content eco-system. Leveraging synergy among our various business units, we are working towards a more balanced and sustainable content mix in which proprietary web-native content will be the foremost category driving our revenue and traffic growth over time."

Business Outlook

For the second quarter of 2015, the Company expects non-GAAP net revenues will be between RMB1.47 billion and RMB1.52 billion, which with advertising net revenues contributing between RMB1.25 billion and RMB1.30 billion. This forecast reflects the Company's current and preliminary view, which is subject to change.

BEIJING, May 6, 2015 /PRNewswire/ -- Youku Tudou Inc. (NYSE: YOKU), China's leading Internet television company ("Youku Tudou" or the "Company"), today announces the appointment of Hugh Wu as the Senior Vice President and Chief Financial Officer, effective May 6, 2015.

Hugh Wu has nearly 16 years of senior financial management experience from renowned multinational and domestic corporations. Before joining Youku Tudou, Hugh served as Chief Financial Officer of Lenovo China and Asia Pacific Emerging Markets, excluding Australia, New Zealand, and Japan (APEM), and Vice President of Lenovo Group, responsible for managing a 300-member finance team. Hugh was also in charge of managing all of Lenovo Group's wholly-owned entities and joint ventures in China and APEM. Prior to Lenovo Group, Hugh served as the Senior Finance Controller at Microsoft Greater China, Chief Financial Officer and Executive Director of BOD at Hc360.com, and Chief Financial Officer at Lenovo Mobile.

Hugh is the Counsel Trustee of the Chartered Institute of Management Accountants (CIMA)'s China Advisory Committee, a fellowship member of U.K. CIMA, and a member of U.S. Chartered Global Management Accountants (CGMA). He is also the Deputy Chairman of Zhongguancun Listed Company Association. Hugh graduated from Beijing Foreign Studies University. He also earned a Master's Degree in Management from University of Bath.

"Our executive leadership team is now more complete and powerful with Hugh Wu joining us as Chief Financial Officer, which follows the recent appointments of Senior Vice President Jerry Li, Chief Product Officer Teddy Gu and Chief Operating Officer Edward Su," said Victor Koo, Chairman and CEO of Youku Tudou. "Within the framework of our new multi-business unit and content center structure, I believe this experienced executive team will work with unprecedented vigor to implement our business strategies and build Youku Tudou's multiscreen entertainment and media ecosystem."

BEIJING, April 29, 2015 /PRNewswire/ -- Youku Tudou and DJI announced today their partnership to leverage Youku Tudou's leading online video platform and DJI's line of high quality aerial videography products by building China's first online platform centered on quality aerial video content, e-tailing, and the aerial video community. This partnership will offer an innovative service and add a new dimension of video technology to Youku Tudou's expansive multiscreen media and entertainment ecosystem.

Youku Tudou will become the release platform for the quality aerial videos created by DJI products in Mainland China. A dedicated DJI content channel on Youku Tudou will feature new product launches and reviews, tutorials, professional-generated content (PGC), and user-generated content (UGC). Content creators will receive a share of the revenue generated on the platform.

Youku Tudou will also become a key DJI online sale and promotion partner for Mainland China, offering the whole line of DJI products for purchase through Youku Tudou's signature e-tailing platform. The first product offered will be a Youku Tudou-branded DJI drone that seamlessly integrates with the new co-branded platform.

The companies also announced that Alipay, Weibo, and Qyer.com will provide additional benefits to users of the new platform. Alipay will provide interest free installment payment plans to purchase DJI products. By incorporating Qyer.com, users can access customized tour routes for capturing excellent aerial videography. The platform will also allow users to share their work on Weibo to further build the aerial videography community.

"This new partnership with DJI fits perfectly into Youku Tudou's rapid advancement of its multi-screen media and entertainment ecosystem," said Jerry Li, Youku Tudou's Senior VP. "By working with strong partners like DJI, we can build new platforms to showcase content, build communities, and offer the best consumer experience for users."

"The combination of DJI's enthusiastic community of aerial filmmakers and photographers and Youku Tudou is already thriving," said Andy Pan, DJI's VP of Ecosystems. "By working with Youku Tudou to create an integrated experience sharing for our customers, we hope to further encourage their creativity and provide even more tools for them to go out and innovate from the skies."

BEIJING, April 20, 2015 /PRNewswire/ -- Heyi Pictures, the movie making division of Youku Tudou, announced today six strategic partnerships to bring quality IPs from across domains to the silver screen, expand the IP incubation process with capable partners, advance Heyi's movie making capabilities and increase their joint audience base and monetization opportunities. The partnerships involve two IP providers, Mopian, and Readers Publishing and Media; IP incubation partner BlueVision Media; as well as with three cross screen partners CCTV-6, AirMedia, and Fundamental Films.

Allen Zhu, Senior Vice President of Youku Tudou and CEO of Heyi Pictures said: "Chinese movie audiences are calling for more quality titles while the Chinese movie business demands a larger and continuous flow of new IPs. By working with prominent partners across different domains, Heyi Pictures is building an open platform to develop stronger IPs across multiple screens to bring to these audiences."

Heyi Pictures will become Mopian's exclusive Internet partner to develop its IPs into movies. As China's leading internet novel organization, Mopian owns more than a dozen popular IPs and has an accumulated readership of over 300 million. The first batch of titles to be incubated are top viewed ones at qidian.com each exceeding 50 million views, including Unlimited Terror, A Tale of the Dragon and Snake, and Yang God, which has been hailed as one of the top 4 Internet fantasies in China.

Readers Publishing and Media is a domestic media company conglomerate with eight subsidiary publishing houses, 13 magazines, animations, and digital and outdoor media platforms. Readers will provide titles from its expansive library built over the last 30 years, which include over 300 literary titles focusing on highly popular themes in China - youth, love and suspense. BlueVision is reputed for its movie development capabilities, expertise in film production, as well as a diverse and creative talent pool. Heyi Pictures, BlueVision and Readers will be complementary in brand, platform, creative process, operation and channel, and will work together to incubate popular IPs from Readers.

CCTV-6 is China's national channel for movies, AirMedia is China's largest airline advertising platform covering 90% of the digital air media market, and Fundamental Media is the largest operator of streaming and outdoor media for subways in China. Movies created and distributed on these platforms can reach as many as two billion views across all their screens and provide ubiquitous coverage for consumers. 

Heyi Pictures will work with CCTV-6, AirMedia and Fundamental Media and leverage Youku Tudou, the parent company's platform, to create the optimal distribution capability for movies to interface across multi-screen audiences. These movies will use traditional cinemas as well as the various screens as distribution platforms and will also showcase and promote the artistic talents of China's emerging directors.

Since the beginning of 2014, Heyi Pictures and prior movie center at Youku Tudou have co-produced 15 titles, collecting over RMB 4.3 billion at the Chinese box office.  These partnerships are further implementation of its ambitious plan announced at Heyi Pictures' launch, which is to produce a mix of 20+ silver screen movies, Internet movies, and movies incubated from popular IPs.

Fourth Quarter 2014 Financial Results 

• Net revenues were RMB1.26 billion (US$203.8 million), a 40% increase from the corresponding period in 2013.
• Non-GAAP basic and diluted loss per ADS for the fourth quarter of 2014 amounted to RMB1.18 (US$0.19) and RMB1.18 (US$0.19), respectively.

"With our large and growing multi-screen video user base underpinning our innovation efforts and growth strategy, we began to diversify and improve the monetization of our leading brand, traffic and content offerings in addition to advertising. As a result, consumer revenues achieved outstanding 473% year-on-year growth in 2014," said Victor Koo, Chairman and Chief Executive Officer of Youku Tudou. "We have put in place a multi-business unit and content center structure, supported by new hires that add complementary skill-sets to our talent pool, creating an agile and innovation-driven organization. For 2015, we expect to see further growth of our platform as we continue to invest to strengthen our leadership in China's online video industry."

Dele Liu, President of Youku Tudou, added, "We continued to make solid progress in original content and PGC. As our in-house production business scaled, content marketing solutions also gained strong momentum and achieved 178% year-on-year revenue growth in 2014. Our long-term goal is to build a content eco-system in which over half of the revenue and video traffic is derived from our web-native content, i.e. original content, PGC, and UGC."

Business Outlook

For the first quarter of 2015, the Company expects net revenues will be between RMB1.01 billion and RMB1.03 billion, with advertising net revenues contributing between RMB870 million and RMB890 million. This forecast reflects the Company's current and preliminary view, which is subject to change.

BEIJING, March 5, 2015 /PRNewswire/ -- Youku Tudou Inc., China's leading internet television company, today announces the formation of new business units Heyi Studios and Innovative Marketing, and the appointment of Edward Su as Chief Operating Officer.

New Business Units

Youku Tudou announces the launch of two new business units, Heyi Studios and Innovative Marketing. Youku Tudou's Chief Content Officer Sunny Xiangyang Zhu has been appointed CEO of Heyi Studios, which produces original TV dramas and innovative web-native content, and Yawei Dong, Chief Marketing Officer, will head the Innovative Marketing Business Unit to develop programmatic advertising, video e-commerce, big data and other new marketing models. As a result of the change, Youku Tudou now has six business units: Youku platform, Tudou platform, Heyi Pictures, Heyi Studios, Innovative Marketing and Cloud Entertainment BU which focuses on gaming and OTT.

Reorganization of Content Management and Production

Taking a new approach to content management and production, Youku Tudou has formed nine Content Centers vertically integrated based on content categories: TV Drama Center, News Center, Variety Show Center, Movie Center, Game Center, Animation Center, Music Center, Education Center and Entertainment Information Center. Frank Ming Wei, President of Youku, and his team will manage Content Centers including TV series, News, and Education. Weidong Yang, President of Tudou, and his team will manage Content Centers including Variety Shows, Entertainment Information, Animations, and Music. Allen Huilong Zhu, CEO of Heyi Pictures, will manage Movie Center. Leo Jian Yao, group CTO and President of Cloud Entertainment BU, will manage game center.

Appointment of COO

Youku Tudou is pleased to announce the appointment of Edward Su as Chief Operating Officer, who will oversee the sales team of Youku Tudou. Before joining Youku Tudou, Edward served as CEO of China Group for Havas Worldwide, a multinational integrated marketing communications agency. Edward has 18 years of business experience from various companies including Grey, D'arcy, Saatchi & Saatchi, and Ogilvy. He graduated from East China Normal University with a Master's Degree in Philosophy and also received an MBA from China Europe International Business School (CEIBS).

"With today's announcements, the framework of Youku Tudou's multi-business unit and content center structure is in place," said Victor Koo, Chairman and CEO of Youku Tudou. "We're well poised to rapidly ramp up our content creation, accelerate our revenue growth and diversification, and fully capitalize on the opportunities that the converging online and offline worlds bring us."

EIJING, February 4, 2015 /PRNewswire/ -- Heyi Pictures, the movie business unit of Youku Tudou, unveiled its movie projects for 2015. The six projects are mostly genre films, reflecting Heyi's underlying strategy to bring successful Intellectual Properties (IP) across the online and offline worlds to the silver screen. They include a film adaptation of Gardenia Blossom, a song performed by top TV show host/actor Jiong He that captured the hearts and minds of a generation of young Chinese students, and a feature length version of Surprise, a top web comedy show that has become a social phenomenon in China.

While (parent company) Youku Tudou has continued to expand its presence in entertainment content, its movie production unit Heyi Pictures has made remarkable inroads into the sector since the unit's launch only six months ago:

• Heyi Pictures has co-produced 11 movies with total box office receipts of RMB3.3 billion, including The Continent, Fleet of Time, and The Taking of the Tiger Mountain 3D, which took 3 spots in China's top 10 domestic movies in 2014.
• Youku Tudou has marketed 88 movies with total box office proceeds of RMB28 billion, representing 42% of China's overall box office receipts in the past three years, making it the go-to company in Internet movie marketing in China.

"We are committed to building a multi-screen media and entertainment ecosystem. The launch of Heyi Pictures gives us crucial access to the movie industry, the crown jewel of entertainment business, and I'm confident that the team is well on track with the six movie projects planned for this year to date," said Victor Koo, Chairman and CEO of Youku Tudou and Chairman of Heyi Pictures.

Heyi Pictures attributes its initial success partly to the rise of genre films in China in 2014: the two genre films Fleet of Time and The Taking of the Tiger Mountain 3D pulled in more than RMB500 million and RMB800 million, respectively. Heyi Pictures believes that the domestic Chinese movie industry has evolved to a stage in which genre films will rise to represent a significant share of the market, as they do in many mature movie markets. The big success of the above two titles was based on the right combination of themes with local appeal with the proven genre formula, the former being a top selling Internet novel, the latter being a household legend in Peking Opera.

"I see 2015 as the year of genre films. We are capitalizing on this opportunity by bringing successful Intellectual Properties (IP) from the online and offline worlds to the silver screen, transforming them into genre films that suit their original stories," said Allen Zhu, CEO of Heyi Pictures. "It's a fast and reliable way to create content for the silver screen. IPs are in essence unique stories with branded characters, and they have a word-of-mouth based reputation as well as an existing community of fans. Our experience in Internet video and incubating productions such as Old Boys and Little Apple can be leveraged toward incubating other IPs as well. We're sharing these experiences and we aim to become China's No.1 movie incubation platform."

BEIJING, December 10, 2014 /PRNewswire/ -- Youku Tudou Inc. (NYSE: YOKU), China's leading Internet television company, today announced the launch of its Cloud Entertainment business unit and the unit's first batch of hardware products consisting of a WiFi router, smart TV box, and large Android tablet.

Headed by Youku Tudou's Chief Technology Officer Leo Yao, the Cloud Entertainment business unit becomes Youku Tudou's fourth consumer facing business unit after Youku, Tudou, and Heyi Pictures. The unit's responsibilities are multi-fold, spanning from developing hardware and services that make Youku Tudou's content more accessible to users to operating games, and to making the user experience more compelling.

"We have been progressively building our multi-screen media and entertainment ecosystem and taking our business to the next level. Now, we are taking a step further to extend our outreach into people's homes and offer a more comprehensive consumer media and entertainment package, which will help drive average revenue per user." said Victor Koo, Chairman and CEO of Youku Tudou.

"Now that Youku Tudou has built the largest user community of online video in China, this expansion will ensure that Youku Tudou's content and services reach all Internet enabled screens in the forms that our users want, and offer a seamless experience across devices," said Leo Yao, CTO of Youku Tudou and President of Youku Tudou's Cloud Entertainment BU. "We're developing the software, hardware, and services to execute our grand vision. Games and digital home entertainment hardware are just the beginning."

The three devices announced today will hit the market in January 2015. The WiFi router forms a P2P-based content delivery network, accelerating video content delivery to Youku Tudou's users and helping to lessen Youku Tudou's bandwidth usage. The smart TV box is capable of delivering 4K Ultra HD video and running the most demanding Android games on the market flawlessly, enhancing the viewer experience. It will transition to Aliyun OS in the next stage with a suite of Alibaba services, including Xiami music and online shopping. The Android Tablet sports a 15.6 inch screen, designed for users who want video viewing, Internet surfing and casual gaming all in one device.

BEIJING, November 21, 2014 /PRNewswire/ -- The Chinese Ministry of Industry and Information Technology on November 20 issued a fourth batch of licenses as part of its large-scale trial of opening the Chinese mobile sector up to MVNOs (mobile virtual network operators), and Youku Tudou, China's leading internet television company, has been a recipient and the only company whose main business is Internet entertainment services and content out of all the recipients.

As required by the qualification process of the MVNO license, Youku Tudou has earlier reached an agreement with China Unicom to resell the latter's mobile services, and Youku Tudou has been developing mobile internet based product and services operations. Being a licensed reseller of mobile services, Youku Tudou will be able to add more customer behavioral data to its existing big data of users' content consumption behavior, and expand its reach beyond its current mix of customers as an online video service provider, driving the convergence of online and offline services.

"Content and communications business have significant synergies that will benefit mobile users. Mobile communications services will become more attractive to users when coupled with content services. With the ever expanding 4G availability, we shall be able to leverage our strength in Internet video, multi-screen leadership, big data, and smart home entertainment to create a more compelling user experience," said Victor Koo, Chairman and Chief Executive Officer of Youku Tudou, "We expect these packaged services will over time promote the growth of our subscriber base and boost our Average Revenue Per User (ARPU)."

On a separate account, the latest weekly data released by iResearch show that Tudou App, a mobile video application developed by Youku Tudou, was the 10th most popular app in terms of user time spent on the mobile platform. This new ranking came shortly after Youku Tudou's other App - Youku App - became the second most popular mobile app behind WeChat in terms of user time spent on the mobile platform. As a result, Youku Tudou has two apps ranked among the top 10 Chinese apps in terms of user time spent.

Third Quarter 2014 Unaudited Financial Results

• Net revenues were RMB1.11 billion (US$180.3 million), a 29% increase from the corresponding period in 2013.
• Basic and diluted loss per ADS, each representing 18 Class A ordinary shares of the Company, for the third quarter of 2014 amounted to RMB0.88 (US$0.14) and RMB0.88 (US$0.14), respectively. Non-GAAP basic and diluted loss per ADS for the third quarter of 2014 amounted to RMB0.50 (US$0.08) and RMB0.50 (US$0.08), respectively.

"We made positive progress in the third quarter in improving the effectiveness of multi-screen advertising solutions and growing our new consumer revenue streams, which drove the top line growth momentum of 29% increase year-on-year versus 27% growth in the second quarter. The new marketing solutions we announced with Alibaba through our strategic cooperation on big data places us uniquely at the forefront of new trends in digital advertising. Our new consumer businesses enjoyed rapid growth and may help spur further top line growth in future quarters. Meanwhile, our Youku mobile video app is now ranked the second most popular mobile app in terms of user time spent after WeChat," said Victor Koo, Chairman and Chief Executive Officer of Youku Tudou. "At the same time, we will continue to invest decisively in the future growth of advertising and consumer business, our content eco-system and continued leadership in multi-screen product development. We believe these investments, such as in headcount increase and marketing for new consumer businesses and our original content productions, will help us further capitalize on the opportunities ahead of us in the multi-screen Internet era, and structurally step up the monetization of our mass user base and brand leadership."

Dele Liu, President of Youku Tudou, added, "With regards to our content strategy, we continued to book further success in establishing a comprehensive content production and distribution eco-system. One of the key highlights for the quarter was the establishment of Heyi Pictures, our movie production and investment division, which is China's first online and offline film company to incubate content IP, scale up content from micro-movies to silver screen movies and to grow fan communities that can support films and new consumer monetization model. Our most recent deals on the production of Internet-based adaptations to television blockbusters Big Brother and The Voice Kids in 2015 are testament to the growing convergence in online and offline media and entertainment."

Business Outlook

For the fourth quarter of 2014, the Companyexpects net revenues will be between RMB1.15 billion and RMB1.22 billion, with advertising net revenues contributing between RMB1.01 billion and RMB1.07 billion. This forecast reflects the Company's current and preliminary view, which is subject to change.

Departure of Chief Financial Officer

The Company today announced that its Chief Financial Officer, Mr. Ge Xu, is resigning from his position at the Company due to personal reasons, and will be effective when the Company submits its 2014 20-F filing.

Mr. Xu joined the Company in October 2011 and has made significant contributions to the Company's growth and development, including enhancing the Company's financial systems and internal controls.

Mr. Victor Koo, Chairman and Chief Executive Officer of Youku Tudou, said, "I'd like to thank Michael for his significant contributions to the Company. We wish him the best with his future endeavors."

"During these years in Youku Tudou, I had a lot of fun and excitement, which not many people are privileged to experience. For this, I am grateful to all my colleagues," commented Mr. Xu.

The Company noted that there were no disagreements between Mr. Xu and Youku Tudou's Board of Directors or management and that his departure is not related to the Company's operations, policies, practices or any issues regarding the integrity of Youku Tudou's financial statements or accounting policies and practices.

BEIJING, November 12, 2014 /PRNewswire/ -- Youku Tudou Inc. (NYSE: YOKU), China's leading Internet television company, today announced that it has entered into a strategic partnership with Xiaomi. The partnership aims to accelerate the development of its multi-screen media and entertainment ecosystem. The two companies will jointly develop content and technology, including developing multi-screen online video services. Xiaomi will invest in Youku Tudou by acquiring the latter's stock on the open market. It will also license content from Youku Tudou, and the two companies will jointly invest in the production and distribution of online video content and movies.

As the No. 1 app and web-based video platform in China, Youku Tudou leads the way in producing original content among Internet companies. Top original content like Searching Divas, On the Road, the Tudou Video Festival and UGC channels have attracted fans to Youku Tudou, forming a large community over time. Youku Tudou's monthly active user base has exceeded 500 million and its daily video views have passed the 800 million mark. Youku App has most recently become the second most popular Chinese mobile app in terms of user time spent, according to iResearch. Youku Tudou's ability in producing original content will provide strong support to the Xiaomi family of hardware by making the user experience more compelling, and will help to boost average revenue per user.

Xiaomi is China's leading Internet company with over 85 million active MIUI users who are known for their strong brand loyalty to Xiaomi. The sales and market share of Xiaomi's smartphones and hardware have been growing steadily. In their respective quarterly reports for Q3 2014, renowned research firms including IDC, Strategy Analytics and Canalys ranked Xiaomi the third-largest smartphone vendor in the world after Samsung and Apple. Both the Mi Box - Xiaomi's set-top box - and the Mi TV are beloved by users. For example, during Alibaba's Tmall Singles Day sale that took place on November 11, Xiaomi's Mi TV achieved three milestones in its product category -- it was the first in terms of overall sales, the first product for which 10,000 units were sold, and the first to break the RMB 100 million revenue mark.

"Both Youku Tudou and Xiaomi have been pioneering multi-screen ecosystem development in the mobile internet era. With the new partnership, we'll leverage our respective capabilities to strengthen our ecosystems and to enhance user experience. Both Youku Tudou and Xiaomi have had initial success in developing intellectual properties and building fan economy for future revenue growth. We will work closely to unlock further opportunities in this area going forward," said Victor Koo, Chairman and CEO of Youku Tudou.

Xiaomi's founder and chairman and CEO Lei Jun named this partnership as the inaugural project for Chen Tong, VP of content investment and content operation, who joined Xiaomi last week and previously served as Sina.com's editor-in-chief and Executive Vice President. Tong is spearheading Xiaomi's efforts in TV and video content with Wang Chuan, a Xiaomi co-founder and VP of the company. Recently, Lei Jun announced that Xiaomi will increase its investment in content, with an initial pledge of US$1 billion.

"Youku Tudou has been a leading force in original content production among Internet companies, and Youku Tudou's user base and Xiaomi's fan community are closely associated. The partnership will bring the development of the Internet industry in China to the next level," added Wang Chuan, VP and co-founder of Xiaomi.

BEIJING, November 6, 2014 /PRNewswire/ -- Youku Tudou Inc. (NYSE: YOKU), China's leading Internet television company, today announced that it has obtained the exclusive rights from Talpa Holding, an international media company, to produce The Voice Kids format in China. This project will be operated by the company's Tudou division. This collaboration combines the strengths of Youku Tudou and Talpa media with the power of The Voice franchise.

The Voice Kids was created by the Dutch media tycoon John de Mol as a sister show to the widely successful reality show, The Voice. The positive and compassionate nature of The Voice is easily transformed into a fun and enriching kids' vocal competition. Launched in 2012, The Voice Kids offers a once-in-a-lifetime opportunity for talented children, as top recording artists guide them with care to help develop their talent from beginning to end. There are currently 25 local versions of The Voice Kids in production worldwide and the show has become a primetime success in its own right.

The Voice of China has already been a social phenomenon, and a smash hit in each of its three seasons, garnering the No.1 viewership rating among shows in its category. The Voice Kids is expected to build on the popularity of this franchise in China.

The Voice of China Kids will retain the classic format including blind auditions, electrifying battles, and professional coaching. As it is based on an internet platform, it will have opportunities for viewers to interact with the show across multiple screens.

"We're excited to bring this worldwide hit format to China and its integration into the Youku Tudou media and entertainment ecosystem will add further appeal beyond its already great interactive, participatory quality and unique design. I believe that The Voice of China Kids provides a wonderful opportunity for today's kids who are very expressive and want a platform to show their talents. By appealing to all ages, I'm sure it'll be great for families to watch together week after week," said Weidong Yang, President of Tudou.

"I am thrilled that The Voice Kids will come to the Chinese audience through a pioneering media outlet such as Tudou. The Voice Kids has already received high ratings and recognition from around the world. With the huge success of The Voice of China, I believe The Voice of China Kids will receive massive attention and generate a huge amount of buzz for the Chinese audience," said John de Mol, President of Talpa Media.

Tudou's cooperation with Talpa fits into the new partnership approach, designed to help build Youku Tudou's multiscreen media and entertainment ecosystem. The Voice Kids is a further addition to Tudou's impressive array of original content, which caters to a mostly younger and edgier audience, with currently 30 shows and 500 episodes of original content. In similar fashion, Tudou has pioneered popular original shows such as Tudou's Weekend Show, The Show, and Tudou K-pop, which were produced by teams of seasoned professionals, 2/3 of their core members were from the top content producers in China such as Hunan TV and Jiangsu TV.

BEIJING, October 30, 2014 /PRNewswire/ -- Youku Tudou Inc. (NYSE: YOKU), China's leading Internet television company ("Youku Tudou"), and Alibaba Group (NYSE: BABA) today announced that the two companies will work together to drive the adoption of big data in marketing in China. Alibaba Group's online marketing technology platform, Alimama, will use its data and technology to support innovative online video marketing techniques, i.e. View and Buy developed by Youku, and Merchants' Video Channel developed by Tudou; and help small companies to improve their operations with data and make online video marketing services more accessible to them.

Alimama announced earlier this year that it would launch online video marketing services in collaboration with major video websites in China to help widen the relevance and reach of online video marketing by Taobao Marketplace and Tmall.com merchants to a broader base of customers. Today's announcement represents a deepening of the existing collaboration by working together with Youku Tudou on data and technology.

"This collaboration is benefiting from the combination of advantages from both sides. The Youku Tudou Cloud and Alibaba's data and technology will collaboratively bring consumer behavior in media and entertainment and consumer behavior in products and services closer together. Both parties will work in stride to realize the "Screen is Channel" and the "Content is Storefront" vision, creating strong synergies between the domains of media and entertainment, and commerce and payment. By working together, we will work to usher in the new online plus offline era." said Victor Koo, Chairman and CEO of Youku Tudou.

"We will build the marketing infrastructure with Youku Tudou in the big data era with the aim of creating value for small companies with data, improving user experience, and building a simple yet highly effective ecosystem that can benefit all participants," added Jonathan Lu, chief executive officer of Alibaba Group.

At the announcement event, Alimama also formally launched its open Data Management Platform (Alimama DMP). Through this platform, Alibaba Group works with brands and merchants to enhance understanding of their customer data and to direct targeted marketing to a broader base of consumers with similar attributes. For buyers, Alibaba Group uses its data to create a better shopping experience by personalizing search results and shopping recommendations.

Youku Tudou and Alimama will also jointly establish a Marketing Innovation Lab in addition to the Big Data cooperation. This lab will aim to drive development of innovative online video marketing techniques and products such as View and Buy and Merchants' Video Channel. As indicated by the name "View and Buy," a consumer can click on merchandise that appears in the video they're viewing and make a purchase without interrupting the playback. The Merchants' Video Channel gives merchants an opportunity to market their products and services by themselves where they can create fun videos to promote their products, get consumers' attention and trigger purchasing actions.

The two marketing techniques/products are a result of the seamless collaboration between Youku Tudou and Alibaba Group. Youku Tudou leverages video viewing behavior data to help merchants identify and advertise during the right timing and context in videos and to find and recommend relevant products to specific consumers.

BEIJING, October 28, 2014 /PRNewswire/ -- Endemol, a world leader in multiplatform entertainment, today announced it is partnering with China's leading digital video platform Youku Tudou Inc. to launch the first ever Chinese version of global reality hit Big Brother.

The new series will be a collaboration between Youku Tudou Inc. and Endemol China. Both parties will contribute their strengths to the co-operation, including Youku's strong digital platforms, its advertising and interactive capabilities and Endemol its production expertise and international distribution network. Launching in Early 2015, Big Brother China will run for ten weeks and production is expected to begin soon.

Endemol's CEO of Asian Operations Arjen van Mierlo comments, "We're thrilled to announce this landmark deal with Youku Tudou Inc., bringing a format that has changed the face of television to China for the first time. In a market that annually generates hundreds of billions of video views, partnering with the number one digital video platform will allow us to bring Big Brother to a young audience and deliver the most immersive, interactive and unique experience to fans across the nation."

Victor Koo, Chairman and CEO of Youku Tudou Inc., adds, "We are delighted to be joining forces with Endemol to finally bring this groundbreaking format to China. Fifteen years after its launch, Big Brother continues to be a worldwide hit that engages passionate young fans across multiple platforms. Youku Tudou has been advancing its multi-screen media and entertainment ecosystem to provide its users with higher quality original content. By partnering with Endemol, Youku Tudou can build on its achievements with this great fit into our business model."

Youku Tudou Inc. currently has over 500,000,000 active users across screens, annually generating over 200 billion views.

Endemol (Beijing) Culture Media Co., Ltd. (Endemol China) is a new operation that has been established in Beijing and is engaged in developing and co-developing formats, providing production consultancy services, exploiting content and promoting Chinese content abroad. Endemol has been active in the Chinese market since 2005 and is closely co-operating with the leading TV broadcasters and digital platforms in China.

Endemol's hits in China include five series of celebrity talent format Your Face Sounds Familiar for Hunan TV and The Brain for Jiangsu, which has won the top award at the prestigious Golden Eagle ceremony, China's biggest TV awards; and is now in production for season two.

Endemol China is part of Endemol Asia, which has grown to become Asia's largest formatprovider with more than 45 series sold across the region last year (excluding India where Endemol operates separately to serve the Hindi and regional markets).

25 series of Big Brother will have aired in more than 70 countries across 2014. After 15 years, the format continues to be a hit in the USA, UK, Australia, Italy, Spain, Canada and Israel as well as in Latin America, Central and Eastern Europe, Scandinavia, Africa and Asia.

BEIJING, August 27, 2014 /PRNewswire/ -- Youku Tudou Inc. (NYSE: YOKU), China's leading Internet television company ("Youku Tudou" or the "Company"), today announced that the board of the Company has approved a new share repurchase program whereby Youku Tudou may purchase its own American depositary shares ("ADSs") with an aggregate value of up to US$300 million. The Company expects to fund the repurchase out of its existing cash balance, including cash generated from its operations. The proposed share repurchase may be effected on the open market at prevailing market prices and/or in negotiated transactions off the market from time to time as market conditions warrant in accordance with applicable requirements of Rule 10b5-1 and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended.

Second Quarter 2014 Unaudited Financial Results

• Net revenues were RMB958.7 million (US$154.5 million), a 27% increase from the corresponding period in 2013.
• Basic and diluted loss per ADS, each representing 18 Class A ordinary shares of the Company, for the second quarter of 2014 amounted to RMB0.88 (US$0.14) and RMB0.88 (US$0.14), respectively. Non-GAAP basic and diluted loss per ADS for the second quarter of 2014 amounted to RMB0.41 (US$0.07) andRMB0.41 (US$0.07), respectively.

"Multi-screen Internet is increasingly mainstream and the convergence of online and offline entertainment has presented new market opportunities. We are scaling our investment and leveraging our strengthened resources to enhance our business model," said Victor Koo, Chairman and Chief Executive Officer of Youku Tudou. "Youku Tudou has helped transform how media and entertainment related content is distributed and marketed since our inception. Going forward, we will work with our online and offline partners to continue to change how content is created and monetized by directly connecting with the ever-growing consumer economy as Youku Tudou is best positioned in developing the leading multi-screen media and entertainment ecosystem in China."

Dele Liu, President and Board Director of Youku Tudou, added, "Our traffic has grown strongly this quarter with our user base reaching over 500 million on a monthly basis. We have made a smooth transition to multi-screen monetization with over 30% of revenues generated from mobile and solid progress on subscription services with 379% growth year on year. By partnering with Alibaba on big data initiatives, we are enhancing our products to create an unique value proposition to advertising partners and consumers. We are confident that our revenue will continue to diversify and grow."

Business Outlook

For the third quarter of 2014, the Companyexpects net revenues will be between RMB1.09 billion and RMB1.13 billion, with advertising net revenues contributing between RMB965 million and RMB1.01 billion. This forecast reflects the Company's current and preliminary view, which is subject to change.

 First Quarter 2014 Unaudited Financial Results

• Net revenues were RMB700.4 million (US$112.7 million),a 36% increase from the corresponding period in 2013.
• Non-GAAP basic and diluted loss per ADS for the first quarter of 2014 amounted to RMB0.88 (US$0.14) and RMB0.88 (US$0.14), respectively.

"Mobile has already become the #1 screen for Youku Tudou. We are the undisputed leader in all of the important mobile video traffic metrics with mobile daily video views reaching 400 million. Our continued investment in product and content development has enabled us to diversify our revenue mix, with mobile monetization surpassing 30% of total revenue to date," said Victor Koo, Chairman and Chief Executive Officer of Youku Tudou. "Online video is a key growth area for the Internet industry and we plan on further transforming Youku Tudou's business model. The transformation requires us to make additional investment in the areas of multi-screen development, diversified revenue models and content ecosystem. The strategic investment from Alibaba will boost our balance sheet and enable us to accelerate our expansion in new business opportunities."

Dele Liu, President of Youku Tudou, added, "Our growing content ecosystem represents a tremendous opportunity for Youku Tudou. We will continue to build up our content portfolio by strengthening original, partner generated and user generated content. We will also continue to invest in human resources to improve our content creation capabilities and to build out our consumer businesses. We are well-positioned to realize the full potential of the online video ecosystem and more investment will see us become an immersive culture entertainment platform."

Business Outlook

For the second quarter of 2014, the Company expects net revenues will be between RMB940 million and RMB1 billion, with advertising net revenues contributing between RMB910 million and RMB950 million. This forecast reflects the Company's current and preliminary view, which is subject to change.

BEIJING, April 28, 2014 /PRNewswire/ -- Youku Tudou Inc. (NYSE: YOKU), China's leading Internet television company ("Youku Tudou" or the "Company"), today announced that it has entered into definitive agreements with a joint investment vehicle of Alibaba Group Holding Limited ("Alibaba") and Yunfeng Capital, pursuant to which Alibaba and Yunfeng Capital, through the joint investment vehicle, will invest an aggregate of approximately US$1.22 billion to purchase a number of Class A ordinary shares from the Company, which we estimate will be 707,250,870 newly issued shares, and 13,869,990 existing Class A ordinary shares, at a purchase price of US$1.6944 per share, corresponding to US$30.50 per American Depositary Share of the Company, each representing 18 Class A ordinary shares.

Alibaba and Yunfeng Capital will indirectly hold approximately 16.5% and 2.0%, respectively, of the total issued and outstanding shares of the Company on a fully-diluted basis determined under the treasury method, after taking into account the shares to be issued in the transaction. The transaction is expected to close in the near future, subject to the satisfaction of customary closing conditions. Jonathan Lu, Chief Executive Officer of Alibaba, will join Youku Tudou's board of directors upon completion of the transaction.

"We are very pleased to have Alibaba as our strategic investor. Alibaba's investment will strengthen Youku Tudou as China's largest online video platform and further differentiate our services and user experience. It will help us continue to build an immersive cultural entertainment platform that integrates online and offline entertainment," Victor Koo, Chairman and Chief Executive Officer of Youku Tudou, said.

"We are excited to cooperate and work closely with Victor and his team to support their innovation in this key emerging space as well as accelerate our digital entertainment and video content strategy," said Jack Ma, Executive Chairman of Alibaba. "This is an important strategic initiative that will further extend the Alibaba ecosystem and bring new products and services to Alibaba's customers."

Goldman Sachs (Asia) L.L.C. is serving as Youku Tudou's financial advisor in respect of the transaction. Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal advisor to Youku Tudou, and TransAsia Lawyers and Maples and Calder are serving as PRC and Cayman Islands legal advisor to Youku Tudou, respectively.

BEIJING, April 24, 2014 /PRNewswire/ -- Youku Tudou Inc. (NYSE: YOKU), China's leading Internet television company, announces that it has inked strategic partnerships with most of China's leading smart TV and OTT manufacturers, 8 of which are an exclusive integration of the pre-installed Youku Tudou App.

In April, Youku announces four new partnerships with OTT companies. All four partnerships include the exclusively pre-installed Youku Tudou TV app. Partners include: Huawei Technologies, China's leading set-top box provider to the telecom operator market that is projected to distribute 1.5 million set-top boxes this year; ZTE 9 Network Technology's Fun Box, China's first Android-based games box; and Goldweb Technologies and Jiuzhou Electronic Technology, which, with projected sales of 800,000 boxes this year, are China's leading OTT makers.

The four additional partnerships bring Youku Tudou into strategic alliances with all top 10 major OTT manufacturers, including Coship Electronics. Youku Tudou is also in partnership with China's top six smart TV players, with Changhong, Haier and Konka all choosing to exclusively preinstall Youku Tudou App. Youku Tudou's applications are available on smart TV and OTT hardware created by dozens of smaller smart TV companies and OTT manufacturers.

Youku began implementing its smart TV and OTT strategy in 2nd half 2013. Youku has obtained its position as a market leader by adopting an open partnership model, and working closely with partners to develop Youku Tudou TV App in order to maximize user experience. Different from standard TV apps, Youku Tudou App is a highly customized application that can be embedded in multiple smart TV and OTT devices. Youku Tudou App comes pre-installed on smart TV and OTT hardware.

BEIJING, April 9, 2014 /PRNewswire/ -- Youku Tudou Inc., China's leading Internet television company, recently launched the beta version of an interactive entertainment platform, "Xingmen (www.xingmeng.com)", that will enable millions of fans to directly connect with their favorite celebrities, musicians, and grassroots talents. The interactive product, available for use on PC and later on mobile, enables viewers to watch live broadcasts of concerts, performances, and other entertainment while simultaneously engaging in online chat, comments, and the gifting of virtual goods. Other crowd-rewarding features and live video chat will soon be available.

One key mission of the platform is for it to serve as a launchpad for stars and grassroots talents who can open their own channels on the platform, enabling them to cultivate broader fan bases, generate shared revenues from the sale of virtual goods and, depending on their popularity, have the chance to be a part of Youku Tudou's in-house produced microfilms, web serials, variety shows, and other entertainment, which normally attract millions of views. Since inception, Youku and Tudou have enabled numerous undiscovered actors, musicians, and other talents to gain widespread fame in China. Many have made it to TV stations, including CCTV's famous Chinese New Year Gala.

Cultivating undiscovered talent as well as experimenting with interactive online platforms are a part of Youku Tudou's DNA. In 2009, the Internet television company held a live webcast of a music concert sponsored by Nokia. Later in 2013 and 2014, Youku Tudou live broadcast concerts from Psy and Lincoln Park. Youku Tudou has also been incorporating interactive features, including the sale of virtual goods and voting, into its online content as part of an effort to elevate viewer experience and monetize the gigantic traffic.

"The interactive entertainment platform is an extension of Youku Tudou's ongoing efforts to innovate entertainment with interactive features," said Yang Weidong, President of Tudou. "It also reaffirms our commitment to supporting talents at the grassroots level and to building a sustainable direct-to-consumer revenue source, leveraging our existing community of more than 450 million users."

Fourth Quarter 2013 Financial Results

• Net revenues were RMB901.3 million (US$148.9 million) in the fourth quarter of 2013, a 42% increase from the corresponding period in 2012 and exceeding the high end of the net revenues guidance previously announced by the Company.
• Basic and diluted loss per ADS, each representing 18 Class A ordinary shares, for the fourth quarter of 2013 amounted to RMB0.15 (US$0.02) and RMB0.15 (US$0.02), respective vs. last years RMB (0.69) US $(0.09).

"The strong operational and financial performance recorded in the fourth quarter enabled Youku Tudou to achieve profitability on a combined basis for the first time in the company's history. This milestone was achieved on the back of scale economics, strong operating leverage and solid execution," stated Victor Koo, Chairman and Chief Executive Officer of Youku Tudou. "With dynamic rise in mobile traffic throughout 2013, our existing comprehensive content library and the two most recognized online video brands set Youku Tudou apart as China's no. 1 multi-screen video company."

Dele Liu, President of Youku Tudou, added, "As viewing content from multiple Internet-enabled devices increasingly becomes a social phenomenon in China, a diverse and comprehensive content mix is critical to elevating our media value and further expanding our leadership across China. We believe our most comprehensive content offering provides enlightening entertainment to hundreds of millions of users in China."

Business Outlook

For the first quarter of 2014, the Companyexpects net revenues will be between RMB680 million and RMB720 million, with advertising net revenues contributing between RMB600 million and RMB640 million. This forecast reflects the Company's current and preliminary view, which is subject to change.

Third Quarter 2013 Financial Results

• Net revenues were RMB857.7 million (US$140.2 million), a 14% increase quarter over quarter.
• Basic and diluted loss per ADS, each representing 18 Class A ordinary shares, amounted to RMB1.31 (US$0.21)and RMB1.31 (US$0.21)

"We are happy that we grew the topline by a strong 14% quarter over quarter and our mobile traffic surged to over 300 million video views per day. We will continue to drive mobile monetization and ramp up revenue from local advertising clients, content marketing solutions and paid services," said Victor Koo, Chairman and Chief Executive Officer of Youku Tudou. "We expect that Youku Tudou will be non-GAAP profitable in the fourth quarter of 2013 after Youku on a stand-alone basis reached the same financial milestone in third quarter of 2012, demonstrating the success of the Youku Tudou merger and solid execution by the team."

Dele Liu, President of Youku Tudou, added, "We achieved further economies-of-scale for the group resulting in a significant narrowing of our loss at the operational level. We were able to control costs as we further leveraged the scale of our platform and in-house production capabilities. Our earlier decision to build an ecosystem for Original and User Generated Content (UGC) has continued to pay off."

Business Outlook

For the fourth quarter of 2013, the Companyexpects net revenues will be between RMB860 million and RMB900 million, which implies a 35% to 42% year over year increase, with advertising net revenues contributing betweenRMB780 million and RMB820 million, which implies a 36% to 43% year over year increase.

The Company is expected to reach non-GAAP profitability in the fourth quarter of 2013.

Second Quarter Financial Results

• Consolidated net revenues were RMB753.5 million (US$122.8 million), a 30% increase from the pro forma combined net revenues for the corresponding period in 2012.
• Consolidated gross profit was RMB190.2 million (US$31.0 million), an 87% increase from the pro forma combined gross profit for the corresponding period in 2012. Consolidated or pro forma combined non-GAAP gross profit is herein defined as consolidated or pro forma combined gross profit excluding share-based compensation expenses and amortization of intangible assets from business combination in relation to user generated content. Consolidated non-GAAP gross profit was RMB204.4 million (US$33.3 million), a 77% increase from the pro forma combined non-GAAP gross profit for the corresponding period in 2012.
• Consolidated net loss was RMB105.1 million (US$17.1million), a 40% decrease from the pro forma combined net loss for the corresponding period in 2012. Consolidated or pro forma combined non-GAAP net loss is herein defined as consolidated or pro forma combined net loss excluding share-based compensation expenses, amortization of intangible assets from business combination and business combination related expenses. Consolidated non-GAAP net loss was RMB44.6 million (US$7.3 million), a 63% decrease from the pro forma combined non-GAAP net loss for the corresponding period in 2012.
• Consolidated basic and diluted loss per ADS, each representing 18 Class A ordinary shares, amounted toRMB0.63 (US$0.10) and RMB0.63 (US$0.10), respectively.

"Multi-screen video consumption is a game changer for Internet television as it offers video anytime, anywhere on any device. We are leveraging our top-of-mind video brand awareness, comprehensive content library and cross-screen product functionalities to extend our leading presence across different screens. With users watching Internet videos on multiple screens becoming the standard in China, Youku Tudou is at the center of exciting growth opportunities for the long term," said Victor Koo, Chairman and Chief Executive Officer of Youku Tudou. "Youku Tudou is moving full speed ahead in multi-screen online video services. Mobile traffic growth is fast gaining traction ahead of our expectations with daily video views growing more than 100% in the last six months. The combination of dynamic growth in mobile traffic and the vast scale of our traffic on PC positions us as the clear leading multi-screen online video company in China."

Dele Liu, President of Youku Tudou, added, "We made solid financial and operational progress across-the-board in the second quarter. Revenue growth reaccelerated due to more effective sales execution while cost synergies further materialized as the integration between Youku and Tudou was completed, resulting in significant margin improvement. We remain committed to building our user-generated content ecosystem and leveraging our original content production capabilities to differentiate Youku Tudou and support our content marketing solutions."

Business Outlook

For the third quarter of 2013, the Company expects consolidated net revenues will be between RMB830 million and RMB870 million, with consolidated advertising net revenues contributing between RMB740 million and RMB770 million. This forecast reflects the Company's current and preliminary view, which is subject to change.

BEIJING, June 20, 2013 /PRNewswire/ -- Youku Tudou Inc. (NYSE: YOKU), China's leading Internet television company, Qualcomm Incorporated (NASDAQ: QCOM), and its wholly-owned subsidiary, Qualcomm Technologies, Inc., today announced a collaboration on H.265 technology, which will allow viewers mobile access to high quality video content on Youku when using most Qualcomm� Snapdragon� processor powered devices. Qualcomm Snapdragon is a product of Qualcomm Technologies, Inc. H.265, also referred to as HEVC codec, will enable the transmission of quality video content using less data bandwidth.

H.265 technology allows a compression efficiency of up to 40% compared to the current video compression technology H.264. Qualcomm Technologies is an industry-leading company that has been closely involved in the standardization of H.265 technology.

Yoku Tudou also recently collaborated with Qualcomm Technologies on latest Qualcomm Snapdragon brand campaign. The campaign, launched on May 24, is one of the largest and most sophisticated to appear on Youku Tudou to date. Since its debut, the advertisement has received rave reviews across China's social media landscape and achieved the highest click-through-rate in Youku history. This campaign also marked the first time Qualcomm Technologies had active control over reach frequency. It is featured in other mobile device formats, ensuring full coverage no matter how users access the site.

"Qualcomm Technologies has built a campaign that resonates with smartphone consumers, and they recognized Youku Tudou's appeal as a destination for smart, high-quality, multi-screen advertising, especially among IT and telecom brands," said Yawei Dong, Chief Marketing Officer of Youku Tudou Inc. "Youku Tudou stands out as an ideal platform choice as the Chinese market is becoming increasingly impossible to overlook. We are pleased to work with companies like Qualcomm Technologies to reach a growing number of young, tech-savvy, mobile consumers."

"As the consumer appetite for rich multimedia mobile experiences began to grow, Qualcomm Technologies committed to driving the H.265 industry standard forward and integrating this technology into Snapdragon processors to enable an elite consumer experience," said Qualcomm's Chief Marketing Officer, Anand Chandrasekher. "Snapdragon is the industry's most advanced all-in-one mobile processor that offers a no compromise user experience across smartphones, tablets and other mobile computing devices. We are pleased to collaborate with Youku Tudou, China's top video platform, to further build Snapdragon brand awareness and drive H.265 technology applications to further engage this new wave of tech-savvy consumers." 

Prior to this campaign, several other brands from the IT and telecom sector have chosen Youku Tudou to launch branding campaigns to target Youku Tudou's hundreds of millions of young and sophisticated users. Advertising revenue from IT brands in Youku Tudou's first quarter of 2013 were up a remarkable 110% over the same quarter in 2012. While Youku Tudou's per-advertiser spending is up across all sectors, per-advertiser spending by IT and telecom brands is even higher.

BEIJING, June 7, 2013 /PRNewswire/ -- Youku Tudou Inc. (NYSE: YOKU), China's leading Internet television company ("Youku Tudou"), today announced a strategic content-sharing alliance with SINA Corporation ("SINA"), an online media company serving China and the global Chinese communities. Under the deal, in exchange for access to Youku Tudou's video library, Sina will leverage their PC and mobile platform to promote Youku Tudou's licensed content to its users on Weibo. The multi-screen strategic collaboration also draws on huge gains in mobile traffic for both companies - 76% of Weibo's daily active users access Weibo through mobile devices, while Youku Tudou counts 170 million daily mobile views.

This collaboration builds upon the existing close relationship between Youku Tudou and Weibo users. Sharing Youku and Tudou videos has long been one of the most popular activities on Weibo. According to the most recent report from Deutsche Bank, in April, videos from Youku platform represented 47.7% of videos retweeted on Weibo, the most for any video site while content from Tudou platform earned the second-most retweets, with 15.9%.

Youku Tudou's content is scheduled to be promoted throughout Weibo starting in July. The promotion takes multiple forms including through personalized recommendation section embedded between micro-blogging posts. Search results for movies and TV dramas will provide direct thumbnail links to watch the title instantly. "Home page" for each title will be set up to provides direct links to watch it on Youku or Tudou platforms and feature reviews, mentions of that title from other Weibo users, and other information that users might find useful. Also under the deal, Youku Tudou and Weibo will cross-promote each other's premium members and their content.

"Creating and sharing content is at the core of the Internet, and Youku Tudou's cooperation with social networking sites such as Weibo is a powerful move towards deepening consumers' online video viewing and sharing experience," said Dele Liu, President of Youku Tudou. "We look forward to showcasing our content in new and innovative marketing formats as we work to expand our lead in the online video industry."

Youku Tudou's extensive video library is one of the largest in China. As of December 31, 2012, our video content library contained more than 4,500 movie titles, 2,700 television serial drama titles and over 900 variety shows. Youku Tudou hosts user-generated content and creates award-winning in-house productions, two highly popular video categories that are available for viewing on Youku.com and Tudou.com.

First Quarter 2013 Highlights[1]

• Consolidated net revenues were RMB516.0 million (US$83.1 million),a 21% increase from the pro forma combined net revenues for the corresponding period in 2012.
• Consolidated gross profit was RMB14.2 million (US$2.3 million), as compared to the pro forma combined gross loss of RMB43.5 million (US$7.0 million) for the corresponding period in 2012. Consolidated or pro forma combined non-GAAP gross profit or loss is herein defined as consolidated or pro forma combined gross profit or loss excluding share-based compensation expenses and amortization of intangible assets from business combination in relation to user generated content.  Consolidated non-GAAP gross profit was RMB28.2 million (US$4.5 million), as compared to the pro forma combined non-GAAP loss of RMB16.6 million (US$2.7 million) for the corresponding period in 2012. 
  
• Consolidated net loss was RMB232.5 million (US$37.4 million), a 12% decrease from the pro forma combined net loss for the corresponding period in 2012. Consolidated or pro forma combined non-GAAP net loss is herein defined as consolidated or pro forma combined net loss excluding share-based compensation expenses, amortization of intangible assets from business combination and business combination related expenses. Consolidated non-GAAP net loss was RMB182.1 million (US$29.3 million), a decrease of 8% from the pro forma combined non-GAAP net loss for the corresponding period in 2012.
• Consolidated basic and diluted loss per ADS, each representing 18 Class A ordinary shares, amounted to RMB1.42 (US$0.23) and RMB1.42 (US$0.23), respectively.
• Consolidated cash, cash equivalents, restricted cash and short-term investments totaled RMB3.5 billion (US$569.5 million) as of March 31, 2013.
  
• Consolidated acquisition of property and equipment was RMB27.4 million (US$4.4 million).
• Consolidated acquisition of intangible assets was RMB238.9 million (US$38.5 million).

[1] The reporting currency of the Company is Renminbi ("RMB"), but for the convenience of the reader, the amounts presented throughout the release are in US dollars ("US$"). Unless otherwise noted, all conversions from RMB to US$ are made at a rate of RMB6.2108 to US$1.00, the effective noon buying rate as of March 29, 2013 in the City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate.

Management commented...

"I am pleased with our progress. We are in the final phase of the merger integration process with Tudou and have completed the restructuring of our sales team in the first quarter. Our combined sales team is positively impacting demand and our increased scale is helping us to optimize our cost structure," said Victor Koo, Chairman and Chief Executive Officer of Youku Tudou. "The three key video mobile traffic metrics all recorded exciting growth in the first quarter and now we have over 100 million active monthly users, over 170 million daily video views and over 70 minutes average daily user time spent. We are emerging as the leading multi-screen online video platform in China as a result of this rapid rise in mobile traffic. Youku Tudou is developing product, content, marketing solutions and paid services across different screens to capitalize on the growing popularity of multi-screen video viewing behavior."

Dele Liu, President of Youku Tudou, added, "We recently adjusted our organizational structure to encourage unity, flexibility, and innovation and to cement our leadership in the evolving Internet space. Under the new group structure, we can further differentiate the brands, content and products of our Youku and Tudou platforms to elevate the entire group's media value. Our content strategy is to decrease our dependence on premium licensed content while strengthening in-house production and user-generated content. We will take a balanced approach and continue to deliver high-impact self-produced content that strengthens brand identity for Youku and Tudou, enhances social media value and supports our content marketing solutions."

HONG KONG, March 19, 2013 /PRNewswire/ -- Youku Tudou Inc. (NYSE: YOKU), China's leading Internet television company ("Youku Tudou") and Hong Kong Television Broadcasts Limited ("TVB") announced an exclusive partnership that will bring an annual volume of over 2500 hours of TVB's hot dramas and old classics to Youku Tudou's websites and mobile clients. The announcement was made at a star-packed conference held during the 37th Hong Kong International Film Festival.

The two year deal will extend Youku Tudou's coverage to virtually all new and classic TVB titles. Two parties also will explore partnerships to co-produce original content and share resources, including co-promoting content generated by TVB-affiliated celebrities, related performances and other events.

Conforming to the fast growing mobile traffic, the deal will also make TVB's exclusive content available on iPads, iPhones, and other mobile devices. By the end of 2012, Youku Tudou recorded over 100 million daily video views from mobile devices.

Prior to this exclusive partnership, Youku Tudou users were already strongly connected to TVB content. Previously, Youku.com and Tudou.com each opened a TVB channel, the video industry's most comprehensive, most convenient destination for watching TVB shows. This partnership represents the latest move in Youku Tudou's continuing pursuit of original overseas film and television content.

Youku Tudou reached an agreement three months ago with the U.S. cable network AMC to become the exclusive source for AMC content in China, in addition to other recent partnerships with the BBC, MBC (Korean Munhwa Broadcasting Corp.) and major U.S. TV content right holders.

"Youku Tudou has both the largest copyrighted video repository and user base. TVB has a spotless reputation and history throughout the Chinese-speaking world," said Youku Tudou President Dele Liu. "This strategic and cooperative partnership combines the strength of Youku Tudou's internet platform and apps with TVB's wonderful repertoire of shows. It's an invaluable combination that will help Youku Tudou achieve its goal of being the go-to source for high-quality internet television in China."

HONG KONG, August 20, 2012 /PRNewswire-Asia/ -- Youku Inc. (NYSE: YOKU), China's leading Internet television company ("Youku" or the "Company"), announced today that, at the annual general meeting of shareholders held today (the "AGM"), the Company's shareholders voted in favor of the proposal to issue Youku Class A shares as the consideration for the merger (the "Merger") with Tudou Holdings Limited ("Tudou") pursuant to the previously announced merger agreement (the "Merger Agreement"), dated March 11, 2012, by and among the Company, Tudou and Two Merger Sub Inc. ("Merger Sub"), as well as the proposals to amend and restate Youku's memorandum and articles of association to reflect Youku's name change after the closing, change of the per share voting power of Youku's class B ordinary shares from three votes for one share to four votes for one share, and change of the vote thresholds for certain matters requiring shareholder approval .Pursuant to the Merger Agreement and the plan of merger attached as Annex A to the Merger Agreement, Tudou will merge with and into Merger Sub, with Tudou continuing as the surviving entity and as a wholly owned subsidiary of Youku and the combined entity will be named "Youku Tudou Inc."

The parties expect to complete the Merger as soon as practicable. Upon completion of the Merger, Tudou will become a privately held company wholly-owned by Youku, and Tudou's American depositary shares will no longer be listed on the NASDAQ Global Market.

Second Quarter 2012 Results

• Net revenues were RMB387.4 million (US$61.0 million), a 96% increase from the corresponding period in 2011.
• Gross profit was RMB76.9 million (US$12.1 million), a 45% increase from the corresponding period in 2011. Non-GAAP gross profit, which is herein defined as gross profit excluding share-based compensation expenses, was RMB79.5 million (US$12.5 million) in the second quarter of 2012, a 48% increase from the corresponding period in 2011.
• Net loss was RMB62.8 million (US$9.9 million), as compared to a net loss of RMB28.1 million (US$4.4 million) for the same period in 2011. Non-GAAP net loss, which is herein defined as net loss excluding share-based compensation expenses and business combination related expenses, was RMB29.3 million (US$4.6 million) in the second quarter of 2012, as compared to the non-GAAP net loss of RMB20.8 million (US$3.3 million) in the corresponding period in 2011. This increase was primarily due to content price increase during 2011, which we amortize using accelerated method, broadening of our content portfolio, increase of number of employees as a result to rapid growth of our business and our continuous and expanded investment in product development in mobile, search, social and paid services.
• Basic and diluted loss per ADS, each representing 18 Class A ordinary shares, for the second quarter of 2012 amounted to RMB0.54 (US$0.09) and RMB0.54 (US$0.09), respectively vs loss of $0.04 in the second quarter 2011.

"Despite challenging macroeconomic conditions, we recorded another quarter of strong revenue growth." said Victor Koo, Chairman and Chief Executive Officer of Youku. "We are pleased to see the continued rationalization of the online video sector and improving content and bandwidth cost structure. The planned integration with Tudou is proceeding smoothly and we are on track to realize the potential of the combination of No.1 and No.2 online video platforms in China."

Dele Liu, President of Youku, commented, "We are further cementing our leadership positions in video and continue to benefit in the structural budget shift from traditional media to online video by offering high ROI marketing solutions. We will continue to drive our edge in user experience, content management and monetization to achieve sustainable and profitable growth."

Business Outlook

For the third quarter of 2012, the Company expects year-on-year growth of 70% to 80% in net revenues. This forecast reflects the Company's current and preliminary view, which is subject to change.

BEIJING, July 9, 2012 /PRNewswire-Asia/ -- Youku Inc. (NYSE: YOKU), China's leading Internet television company ("Youku"), has entered into a multiple-year agreement with NBCUniversal International Television Distribution for the video-on-demand rights in China to a broad collection of current, library and upcoming NBCUniversal feature films. The films -- including Schindler's List, The Mummy, The Mummy Returns, The Mummy: Tomb of the Dragon Emperor, Jurassic Park, The Lost World: Jurassic Park, Jurassic Park III and Apollo 13 -- will be available for on-demand viewing through Youku Premium.

In addition to a yearly rotating selection of more than 100 classic titles from NBCUniversal's rich catalogue, including such Oscar® winners and critical favorites as Trainspotting, Being John Malkovich, and The Big Lebowski, the new agreement also covers upcoming NBCUniversal releases. These will include Contraband, Safe House, The Lorax, and summer tentpole releases Battleship and Snow White & The Huntsman. The new films will appear on Youku's platform for paid on-demand viewing after their China theatrical releases.

"Youku has been steadily broadening and deepening our partnerships with Chinese and international studios," said Huilong Zhu, Youku's vice president of movie operations and corporate development. "Our new agreement with NBCUniversal is one more step forward towards our goal of offering the highest quality content to Youku's more than 300 million viewers. The new agreement best demonstrates the confidence that we and our partners share in the growth of Youku Premium."

Youku has signed deals to license content from a number of major international studios including Disney, Paramount, Dreamworks, Warner Bros and 20th Century Fox.

BEIJING, July 2, 2012 /PRNewswire-Asia/ -- Youku Inc. (NYSE: YOKU), China's leading Internet television company, today announced that Mr. Dele Liu, Chief Financial Officer and Senior Vice President of Youku, has been promoted to President and Mr. Michael Xu, previously Senior Vice President of Finance, succeeds Mr. Liu as Chief Financial Officer and Senior Vice President, effective July 1, 2012.

"Dele has been with our company since 2006 and has demonstrated exceptional leadership during his tenure as Chief Financial Officer and Senior Vice President through a period of unprecedented change and growth in our industry," said Victor Koo, Chairman and Chief Executive Officer of Youku. "Dele's proven ability in leading the business in a strategic manner will bode well in his new role as President with on-going focus on business operations and development. With the addition of Michael as Youku's Chief Financial Officer, who brings over 16 years of financial experience in both China and the US, we have a very strong management combination to lead Youku going forward."

Before he joined Youku in September 2011, Michael Xu held various senior executive positions at leading Chinese technology and media companies, including Lenovo, Alibaba, and Focus Media. Prior to that, Xu worked at Cisco Systems in the US and as an auditor at PricewaterhouseCoopers in Beijing. Xu holds an MBA degree and a Master of Accounting degree from the University of Texas and a bachelor's degree in economics from Beijing Institute of International Relations

First Quarter Highlights

• Net revenues were RMB270.2 million (US$42.9 million), a 111% increase from the corresponding period in 2011.
• Gross loss was RMB22.6 million (US$3.6 million), as compared to a gross profit of RMB14.0 million(US$2.2 million) for the same period in 2011. Non-GAAP gross loss, which is herein defined as gross loss excluding share-based compensation expenses, was RMB20.6 million (US$3.3 million) in the first quarter of 2012, compared to the non-GAAP gross profit of RMB14.5 million (US$2.3 million) in the corresponding period in 2011. The quarterly loss position was primarily due to content price increase during 2011, which we amortize using accelerated method, and broadening of our content portfolio.
• Net loss was RMB156.1 million (US$24.8 million), as compared to a net loss of RMB46.9 million (US$7.4 million) for the same period in 2011. Non-GAAP net loss, which is herein defined as net loss excluding share-based compensation expenses and business combination related expenses, was RMB115.4 million(US$18.3 million) in the first quarter of 2012, as compared to the non-GAAP net loss of RMB41.5 million(US$6.6 million) in the corresponding period in 2011. This increase was primarily due to content price increase during 2011, which we amortize using accelerated method, broadening of our content portfolio, increase of number of employees as a result to rapid growth of our business and our continuous and expanded investment in product development in wireless, search, social and paid services.
• Basic and diluted loss per ADS, each representing 18 Class A ordinary shares, for the first quarter of 2012 amounted to RMB1.36 (US$0.22) and RMB1.36 (US$0.22), respectively.
• Cash, cash equivalents and short-term investments totaled RMB3.6 billion (US$576.0 million) as of March 31, 2012.
• Cash flow from operating activities for the first quarter of 2012 turned positive and reached RMB17.7 million(US$2.8 million), as compared to negative operating cash flow of RMB11.3 million (US$1.8 million) for the same period in 2011.
• Acquisition of property and equipment for the first quarter of 2012 was RMB10.1 million (US$1.6 million), as compared to RMB13.5 million (US$2.1 million) for the same period in 2011.
• Acquisition of intangible assets for the first quarter of 2012 was RMB50.4 million (US$8.0 million), as compared to RMB41.7 million (US$6.6 million) for the same period in 2011

"We are happy to have another quarter of solid triple-digit top line growth," said Victor Koo, Chairman and Chief Executive Officer of Youku. "The pending merger with Tudou and the smooth transition to date will position us to offer the most comprehensive video service to the Chinese population and to build a world class Internet company in China."

Dele Liu, Senior Vice President and Chief Financial Officer of Youku, commented, "Internet video advertising is becoming a mainstream marketing service for Chinese advertisers as evidenced by our strong growth in number of advertisers and average spending per advertiser. As a result of the consolidation in the online video industry, we are seeing significant decline in content price and expect an inflection of our content economics, which will help us to achieve profitable growth over time."

Business Outlook

For the second quarter of 2012, the Company expects year-on-year growth of 90% to 100% in net revenues. This forecast reflects the Company's current and preliminary view, which is subject to change.

BEIJING, April 23, 2012 /PRNewswire-Asia/ -- Youku Inc. (NYSE:YOKU), China's leading Internet television company ("Youku"), recently signed an exclusive deal with CBS Studios International to bring two seasons of each series of the popular shows "Survivor" and "America's Next Top Model" to Youku's platform. The new agreement builds on Youku's previous relationship with CBS and makes Youku China's first video site to license "Survivor."

"America's Next Top Model" and "Survivor" began "airing" on Youku's platform on February 16 and March 1, respectively. New episodes are posted every Thursday, keeping Chinese viewers of the show synchronized with their US counterparts.

"We're excited to offer our viewers top shows from CBS Studios International on an advertising-supported basis." said Sunny Xiangyang Zhu, Youku's Chief Editor. "This exclusive arrangement builds on the foundation of our relationship with CBS, which we look forward to maintaining and deepening in the future."

Youku began offering "America's Next Top Model" last year. Since then, Internet users have viewed episodes of the show more than 15 million times. Youku has signed deals to license content from a number of major international film and TV studios. Recent licensing agreements have covered rights to content from studios including Lionsgate, 20th Century Fox, South Korean broadcaster MBC, Disney, Paramount, Dreamworks, and Warner Bros.

Fourth Quarter Highlights

• Net revenues were RMB309.3 million (US$49.1 million), a 103% increase from the corresponding period in 2010.
• Gross profit was RMB65.6 million (US$10.4 million), a 30% increase from the corresponding period in 2010.
• Operating expenses were RMB123.0 million (US$19.5 million), a 108% increase from the corresponding period in 2010.
• Net loss was RMB49.6 million (US$7.9 million), a 32% increase from the corresponding period in 2010.
• Basic and diluted loss per ADS, each representing 18 Class A ordinary shares, for the fourth quarter of 2011 amounted to RMB0.43 (US$0.07) and RMB0.43(US$0.07), respectively.
• Cash, cash equivalents and short-term investments totaled RMB3.7 billion (US$586.8 million) as ofDecember 31, 2011.
• Cash flow from operating activities for the fourth quarter of 2011 was RMB81.6 million (US$13.0 million), as compared to RMB10.6 million (US$1.7 million) for the same period in 2010.
• Acquisition of property and equipment for the fourth quarter of 2011 was RMB40.7 million (US$6.5 million), as compared to RMB17.4 million (US$2.8 million) for the same period in 2010.
• Acquisition of intangible assets for the fourth quarter of 2011 was RMB115.0 million (US$18.3 million), as compared to RMB26.7 million (US$4.2 million) for the same period in 2010.

"Over the course of our first year as a U.S. publicly listed company, we have experienced strong growth in both revenue and traffic that further solidified our market position as China's leading Internet television company," said Victor Koo, Chairman and Chief Executive Officer of Youku. "With the growing opportunities ahead of us, our fundamental approach to this market is to continue to make long-term investments, as scalability is central to the success of our business model."

Dele Liu, Youku's Senior Vice President and Chief Financial Officer, commented, "We are glad that we continue to enjoy strong revenue growth in 2011 as a result of our solid execution and aggressive investment in content and technology. We expect that our investment will continue to increase our competitive advantages, which will position us for long-term profitable growth."

Business Outlook

For the first quarter of 2012, the Company expects year-on-year growth of 95% to 105% in net revenues. This forecast reflects the Company's current and preliminary view, which is subject to change.

BEIJING and SHANGHAI, March 12, 2012 /PRNewswire-Asia/ -- Youku Inc. (NYSE: YOKU) ("Youku") and Tudou Holdings Limited (NASDAQ: TUDO) ("Tudou") announced today that they have signed a definitive agreement for Tudou to combine with Youku in a 100% stock-for-stock transaction. Under the terms of the agreement, each Class A ordinary share and Class B ordinary share of Tudou issued and outstanding immediately prior to the effective time of the merger will be cancelled in exchange for the right to receive 7.177 Class A ordinary shares of Youku, and each American depositary share of Tudou ("Tudou ADSs"), each of which represents four Tudou Class B ordinary shares, will be cancelled in exchange for the right to receive 1.595 American depositary shares of Youku ("Youku ADSs"), each of which represents 18 Youku Class A ordinary shares resulting in Youku and Tudou shareholders and ADS holders owning approximately 71.5% and 28.5% of the combined entity, respectively, immediately upon completion of the transaction. Upon completion, the combined entity will be named Youku Tudou Inc. Youku's ADSs will continue to be listed on the NYSE under the symbol "YOKU".

"We intend to lead the next phase of online video development in China. Youku Tudou Inc. will represent a differentiated leader in the online video market in China with the largest user base, most comprehensive content library, most advanced bandwidth infrastructure and strongest monetization capability within the sector," said Victor Koo, founder, chairman and chief executive officer of Youku. "Youku Tudou Inc. will have the reach and scale to bring our users high quality content at high speeds. The combined company will have the two leading online video brands in China: Youku and Tudou."

BEIJING, February 22, 2012 /PRNewswire-Asia/ -- Youku Inc. (NYSE: YOKU), China's leading Internet television company (the "Company"), announced today that it had signed an agreement to extend its successful partnership with m1905.com, a leading online movie site wholly owned by China Central Television's CCTV-6. Under the one-year agreement, effective March 1, 2012, Youku will offer on-demand viewing for movie titles to which m1905.com holds exclusive online distribution rights during 2012, including new films such as Wind Seeker.

Developed and wholly owned by CCTV-6, China's only nationwide dedicated movie channel, m1905.com is one of the country's leading purchasers of online movie distribution rights. Youku first partnered with m1905.com in early 2011 for on-demand viewings of Let the Bullets Fly, a Chinese box office record breaker directed by Jiang Wen. Youku accounted for two-thirds of total on-demand video orders for the film.

The new agreement will give Youku access to all new movie titles for which m1905.com has purchased exclusive online distribution rights. Films will typically become available for on-demand viewing within 45 days of the end of their theatrical run, which typically lasts 30 days.

"We are pleased to continue the successes of our previous partnership with Youku," said Xiaojie Liu, m1905.com's General Manager of Business Value-Added Department. "With this expanded partnership, we have great hopes for establishing the online on-demand paid viewing window as a key of the industry distribution chain."

"Our internal data shows that a fast growing number of Youku users are willing to pay for convenience and quality in online film viewing," said Huilong Zhu, Vice president of Movie Operations and Corporate Development from Youku. "Whether for top domestic films or major international pictures, we believe that our partnership with m1905.com will potentially benefit millions of movie lovers and China's fast-developing film industry."

Youku Premium, Youku's on-demand platform, offers high-quality licensed content from major production houses and distribution agencies, including Warner Bros, Paramount, and 20th Century Fox. Since launching in beta a year ago, Youku Premium has processed more than 1 million paid orders, which includes both pay-per-view and subscription orders.

Third Quarter 2011 Highlights

• Net revenues were RMB262.5 million (US$41.2 million), a 129% increase from the corresponding period in 2010, exceeding the high end of the Company's guidance by 4%.
• Gross profit was RMB67.8 million (US$10.6 million), a 330% increase from the corresponding period in 2010.
• Operating expenses were RMB120.1 million (US$18.8 million), a 120% increase from the corresponding period in 2010.
• Net loss was RMB47.5 million (US$7.4 million) in the third quarter of 2011, an 11% decrease relative to the corresponding period in 2010.
• Non-GAAP net loss was RMB28.2 million (US$4.4 million) in the third quarter of 2011, a 25% decrease relative to the corresponding period in 2010.
• Basic and diluted loss per ADS, each representing 18 of our Class A ordinary shares, for the third quarter of 2011 amounted to RMB0.42 (US$0.07) and RMB0.42 (US$0.07), respectively.

"We had another quarter of solid growth in both traffic and revenues, and our gap with competitors both in terms of traffic and revenues is clearly expanding as a result of network effect," said Victor Koo, Chairman and Chief Executive Officer of Youku. "Internet television is a young and evolving space with tremendous opportunities. We are in an aggressive investment cycle and we will continue to invest proactively to expand and leverage our user base and client base, brand, team and infrastructure as we move to establish one of the largest Internet franchises in China."

Dele Liu, Senior Vice President and Chief Financial Officer of Youku, commented, "We are happy to continue to realize another quarter of triple digit growth year-on-year. We are committed to creating shareholder value through long-term market leadership."

Business Outlook

For the fourth quarter of 2011, the Company expects year-on-year growth of 90% to 100% in net revenues. This forecast reflects the Company's current and preliminary view, which is subject to change.

BEIJING, August 29, 2011 /PRNewswire-Asia/ -- Youku.com, Inc. (NYSE: YOKU), China's leading internet television company, and DreamWorks Animation SKG, Inc. (NASDAQ: DWA) announced today that they have entered into a first-of-its-kind online distribution agreement for rights to the DreamWorks Animation KungFu Panda franchise films in Mainland China. This is the first time that DreamWorks Animation titles, which are distributed by Paramount Pictures, will be made available through an online platform in China.

We believe the cash we received from the initial public offering in December 2010, the follow-on offering in May 2011 and the anticipated cash flow from operations will provide us with sufficient capital to meet our anticipated cash needs for the foreseeable future. If we have additional liquidity needs in the future, we may obtain additional financing, including equity offering and debt financing in capital markets, to meet such needs.

BEIJING, May 20, 2011 /PRNewswire-Asia/ -- Youku.com Inc. (NYSE: YOKU), the leading Internet television company in China ("Youku" or the "Company"), today announced that its follow-on public offering of 12,310,000 American depositary shares ("ADSs") by the Company and certain of its pre-IPO investors was priced at US$48.18 per ADS. Each ADS represents 18 Class A ordinary shares of the Company. In connection with this offering, the underwriters have been granted the option to purchase up to an aggregate of 1,800,000 additional ADSs from certain selling shareholders at the public offering price less underwriting discounts.

Youku will not receive any proceeds from the sale of the ADSs by the selling shareholders. The gross proceeds to the Company will be approximately US$400 million. Goldman Sachs (Asia) L.L.C. acted as the sole bookrunner, and Allen & Company LLC, Barclays Capital Inc., Piper Jaffray & Co. and Pacific Crest Securities LLC acted as co-managers for the offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on May 19, 2011. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the securities described herein, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Youku.com Inc, or Youku, is offering 8,000,000 American depositary shares, or ADSs, and the selling shareholders identified in this prospectus are offering an additional 4,000,000 ADSs.

First Quarter Results:

• Net revenues were RMB128.0 million (US$19.5 million), a 163% increase from the corresponding period in 2010(2).
• Gross profit was RMB14.0 million (US$2.1 million), compared to a gross loss of RMB18.3 million (US$2.8 million) for the corresponding period in 2010.
• Net loss was RMB46.9 million (US$7.1 million), an 8% decrease relative to the corresponding period in 2010.

"Our monthly unique visitors from homes and offices reached 231 million in March 2011, an increase of 22 million from December 2010, while our monthly unique visitors from Internet cafés exceeded 50 million in February 2011, according to iResearch. We continue to strengthen our leadership position in the Internet television space in China," said Victor Koo, Chairman and Chief Executive Officer.

• Basic and diluted loss per ADS, each ADS representing 18 of our Class A ordinary shares, for the first quarter of 2011 amounted to RMB0.45 (US$0.07) and RMB0.45 (US$0.07), respectively.

For the second quarter of 2011, the Company expects year-on-year growth in net revenues of 125% to 135%. This forecast reflects Youku's current and preliminary view, which is subject to change.

Fourth Quarter Highlights:

"I am very pleased to report a strong fourth quarter, which is also the first time we report financial results as a publicly listed company. Our strong growth has been driven by a surging digital economy in China and our focus on providing the most comprehensive video content library to Chinese users and the best user experience in watching, searching and sharing videos. We are also happy with the achievements we made in our video search engine Soku, P2P software iKu and our wireless products which are rapidly gaining popularity," said Victor Koo, Chairman and Chief Executive Officer.  

• Net revenues were RMB152.5 million (US$23.1 million) in the fourth quarter of 2010, representing a 183% increase from the corresponding period in 2009.
• Gross profit was RMB50.4 million (US$7.6 million) in the fourth quarter of 2010, compared to a gross loss of RMB5.2 million (US$0.8 million) for the corresponding period in 2009
• Net loss was RMB37.7 million (US$5.7 million) in the fourth quarter of 2010, representing an 18% decrease from the corresponding period in 2009. Basic and diluted loss per ADS(3) for the fourth quarter of 2010 amounted to RMB0.89 (US$0.13) and RMB0.89 (US$0.13), respectively.

For the first quarter of 2011, the Company expects the year-on-year net revenues growth at a rate of 105% to 115%. This forecast reflects Youku's current and preliminary view, which is subject to change.

Youku.com plans for Initial Public Offering

Company Snapshot:

The leading Internet television company in China

According to iResearch, we had approximately 203 million monthly unique visitors from homes and offices in September 2010 and approximately 61 million monthly unique visitors from Internet cafes in August 2010. We had a 40% market share in terms of total user time spent viewing online videos in China during the second quarter of 2010, while our closest competitor accounted for a 23% market share during the same period, according to iResearch. In 2009, we had an implied market share of approximately 14% in terms of online video advertising spend in China, based on iResearch’s estimated total online video advertising spend in China.

Industry Snapshot

• China’s video media market has developed in a very distinct manner from those in the United States and Western Europe, resulting in a domestic ecosystem highly regulated and fragmented both in terms of production and distribution. This market is undergoing substantial changes partially due to macro trends affecting the global video media market, such as the migration of consumers online, the digitization of both new and existing content, and more convenient access to that content through increasingly faster fixed and mobile broadband connections. The combined effect of these macro trends is that the Internet has emerged as a viable video distribution channel. In China, these changes are magnified by the country’s rapid economic growth, the expansion of the advertising industry, significantly increased consumer spending, and the fragmentation of the legacy production and distribution ecosystems for video content. This has created opportunities for web properties in China with differentiated, desirable video content to aggregate large, nationwide audiences while delivering personalized content whenever users want. With disposable income growing quickly in China, these aggregated audiences have become more attractive to advertisers as well as more capable of paying for content.

• According to iResearch, the size of China’s online video market, as measured by total revenues, grew rapidly from RMB0.5 billion (US$78 million) in 2006 to RMB2.8 billion (US$413 million) in 2009, representing a compound annual growth rate, or CAGR, of 74%. China’s online video market has become increasingly concentrated, with the top five players accounting for 83% of the total user time spent watching online videos in China during the second quarter of 2010, according to iResearch.

Use Of proceeds:

We expect that we will receive net proceeds of approximately US$139.3 million from this offering, assuming an initial public offering price of $10.00 per ADS, which is the mid-point of the estimated range of the initial public offering price set forth on the front cover of this prospectus (after deducting underwriting discounts and commissions and estimated offering expenses payable by us).

We intend to use the net proceeds from this offering to invest in technology, infrastructure and product development efforts, acquire additional video content and expand our sales and marketing efforts and for other general corporate purposes, including working capital needs and potential acquisitions (although we are not currently negotiating any such acquisitions).

Underwriter:

• Goldman Sachs (Asia) L.L.C.
• Allen & Company LLC
• Piper Jaffray
• Pacific Crest Securities

Proposed offering price: $$9.00 and $11.00

Post IPO Share Calculation: (Using a 18 to 1 Ordinary to ADS conversion ratio).

• 86,427,671: Pre IPO fully diluted share count used in EPS calculation.
• 15,367,500: Newly issued ADS shares
•    2,305,100: Undewriter over-allotments ADS shares 
• : Miscellaneous 1,190,022,965

GeoTeam® best effort calculation of total post IPO ADS count to be used in EPS calculations, assuming full conversions and a Ordinary to ADS conversion ratio of 18 to 1:   104,100,271

Financial Snapshot:

2009 vs 2008

• Revenues: $22.9 vs. $4.9 million
• Net Income: Losing money

Nine Months 2010 vs. 2009

• Revenues: $35.1 vs $14.9 million
• Net Income: Losing money

We believe that our cash, the anticipated cash flow from operations, the net proceeds we expect to receive from this offering and the borrowings from our loan agreements will be sufficient to meet our anticipated cash needs for the next two to three years, after which period we expect to generate positive cash flow from operations.

If we have additional liquidity needs in the future, we may obtain additional financing, including equity offering and debt financing in capital markets, to meet such needs.

The operation of an online video business requires significant upfront capital expenditures as well as continuous, substantial investment in content, technology and infrastructure. Prior to our initial public offering, we financed our operations primarily through private placements of our preferred shares to investors, and to a lesser extent, debt financing and cash flow from operations. Upon completion of this offering and our expected receipt of the net proceeds from this offering, we believe that we will have sufficient capital to meet our anticipated cash needs for the foreseeable future. However, in order to implement our development strategies to expand our infrastructure and optimize our services across Internet-enabled devices, and further expand and diversify our revenue sources, we may incur additional capital needs in the future