Tudou founder Marc van der Chijs is having a small party. Ten years after he started China´s video sharing firm Tudou (now merged with former competitor Youku), the company turned profitable. A bit longer than we expected, he writes on his weblog.
Marc van der Chijs:
Today Youku Tudou released its Q4 2013 results and the online video site is now officially profitable! It’s almost 10 years ago since I entered this sector, at that time I had not expected that it would take so long to reach this milestone. Although I have not been involved in the company for quite some time it’s still a nice feeling to see that the company is doing so well.
I dialed in on the earnings call a few hours ago and was impressed with how the company is doing and with their expectations and plans for 2014. The share price immediately reacted, during regular hours it went up by 3% and after the results were published by another 8.5%. Let’s see what will happen when Wall Street opens on Friday!
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