Chinese online video company Tudou has filed for an initial public offering of shares on the Nasdaq market in the US. Tudou is offering 5.57 million American Depositary Shares, and one of its shareholders will sell 430,000 ADS. The offering is equal to 24 million of its class B shares and will be priced at USD 28-30 per ADS. The underwriters have an option to sell another 900,000 ADS if demand warrants. Tudou expects to raise a net USD 143.5 million from the offering, which it will use for buying and producing content and expanding its bandwidth capacity. Tudou reported a net loss of CNY 362.4 million in 2010, on revenues of CNY 286.3 million. The site had 90.1 million registered users at the end of June, up from 78.2 million six months earlier, and monthly unique visitors reached 200 million in May this year, according to iResearch figures cited by the company. Its revenues come mainly from advertising as well as a mobile video service run with China Mobile.
