56.com aims to become YouTube of China, raises $20M
updated
While YouTube ran away with the video-sharing crown in the United States, the race is still heated in China, the world’s second largest Internet market and fastest-growing.
There, two leaders are fighting it out, Tudou.com and 56.com. Tudou commands 22 percent of searches for video on China’s most popular search engine Baidu, compared to 56.com, which gets 19 percent. In third place is Youku.com, with 13.9 percent.
56.com seeks to catch Tudou, today announcing it has raised… Continue Reading