Last week, I briefly introduced the fast-growing Chinese Social Network Site Kaixin001.com's eye-popping growth story. This week, I’d like to highlight another Social Media star in China: Youku.com.
Launched in December 2006, Youku.com has grown to become the most successful video sharing site in the country. As the company has reported, "Youku.com delivers more than 150 million daily video views as of June 2008 and total user time spent exceeded 30 billion minutes per month." Traffic ranking company Alexa has ranked Youku.com as number 10 in
Calling all these video sharing sites “Youtube clones” is not exactly correct. Even though they brand themselves as site for user-generated content (the videos and comments are submitted by the users), there is also a lot of professionally-produced content there, like hot TV shows and movies, due to holes in enforcing intellectual property policy in
An editorial focus on professional content is probably a major reason Youku has separated itself from its competitors in
According to Youku, until July 2008, it has received 80 million dollars in funding from international venture capitalists including Bain Capital, Sutter Hill Ventures, Farallon Capital, Maverick Capital and Chinese Venture Capitalist Chengwei Venture.
Youku has also launched a program called Daily Buzz to report its hottest videos, along with an introduction of background stories in English. It could be a great source for foreigners to access the hottest online buzz in China. Kudos to Youku for providing a window for the outside world into all the social dimensions of