BEIJING, Aug. 29, 2012 /PRNewswire-Asia/ -- Youku Tudou
Inc. (NYSE: YOKU), China's leading
Internet television company ("Youku" or the "Company") today
announced that, pursuant to the agreement and plan of merger (the
"Merger Agreement"), dated March 11,
2012, by and among the Company, Tudou Holdings Limited
("Tudou") and Two Merger Sub Inc. ("Merger Sub"), a wholly owned
subsidiary of the Company, Mr. Gary Wei
Wang and Mr. Jixun Foo were
appointed to serve as directors on the Company's board of directors
effective upon the completion of the merger (the "Merger") of
Merger Sub and Tudou on August 23,
2012.
Following the appointments of Mr. Wang and Mr. Foo, the Company
has a nine-member board of directors with five of the board members
being independent directors.
Mr. Wang is the founder of Tudou, a leading Internet video
company in China and which became
a wholly owned subsidiary of the Company upon the completion of the
Merger, and was the chairman and chief executive officer of Tudou
prior to the completion of the Merger. Prior to founding
Tudou, Mr. Wang served as the corporate development director of
Bertelsmann Group, an international media company, and also served
as the managing director of Bertelsmann Online China, a company
operating the e-commerce businesses of Bertelsmann Group in
China, from 2003 to 2005. From
1997 to 2001, Mr. Wang worked with Hughes Electronics, a provider
of digital television entertainment and satellite and wireless
systems and services. Mr. Wang received his MBA degree from INSEAD
in 2002, his master's degree in computer science from Johns Hopkins University in 1999, and his
bachelor's degree in international business from the College of Staten Island in 1995.
Mr. Foo is a partner at GGV Capital, which was a pre-IPO
investor in Tudou. Mr. Foo joined GGV Capital in 2006 and has
more than 12 years experience in venture capital investing and
working with Asian entrepreneurs. Mr. Foo serves on the board
of directors of a number of GGV Capital portfolio companies. Mr.
Foo's work experience prior to joining GGV Capital includes serving
as a director of Draper Fisher Jurvetson ePlanet Ventures, heading
up the Investment Group with the Finance & Investment Division,
National Science & Technology Board of Singapore (NSTB), and being an R&D project
group leader at Hewlett Packard. Mr. Foo graduated from the
National University of Singapore with a
First-Class Honors degree in engineering and received a master of
science degree in management of technology from the University's
Graduate School of Business.
About Youku Tudou Inc.
Youku Tudou Inc. (NYSE: YOKU) is China's leading Internet television company.
Its Internet television platform enables users to search, view and
share high-quality video content quickly and easily across multiple
devices. Youku, which stands for "what's best and what's cool" in
Chinese, is the most recognized online video brand in China. Youku's American depositary shares,
each representing 18 of Youku's Class A ordinary shares, are traded
on the NYSE under the symbol "YOKU".
For more information, please contact:
Ryan Cheung
Corporate Finance Director
Youku Tudou Inc.
Tel: (+8610) 5885-1881 x6090
Email: ryan.cheung@youku.com
SOURCE Youku Tudou Inc.