Youku Tudou is a hybrid, like combining Netflix and YouTube. Like Netflix, with Youku, which launched in 2005, we syndicate a library of longform content and create original content. The Tudou model started with user-generated content but is increasingly becoming about partner-generated programming.

With the rapid growth of Internet users in China bringing online video into a new paradigm, the market scale we first envisioned as an online video website back in 2006 has grown significantly.

The online video business started in both China and the US around 2005/6, when broadband penetration grew big enough.

Our management team strongly believes that the key opportunity of our business does not only come from just the increase in terms of number of users but also how we continue to enhance the value of our platform for our users.

On the monetization front, our strengthening leadership in internet user base and broadening reach of our platform have already positioned us as a must-buy platform in online video for brand advertisers to reach a nationwide audience within China.