However, the capital market may not think so. In the first two or three days when Tudou.com initially decided to go public, even with Youku's impressive financial report and a significant rebound in the concept stock market, Youku still experienced consecutive sharp declines. Mirae Asset Management once issued an analytical report pointing out that despite Youku's excellent second-quarter performance and optimistic third-quarter outlook, Youku's stock price seemed closely tied to the fate of its competitor Tudou.
As of yesterday's closing, Youku plummeted 8.11% to close at $23.92. In the past 52 weeks, Youku's highest price was $69.95, and its lowest price was $19.76. (Cui Xi)
"As fellow entrepreneurs, I deeply understand the complexities." G Yongqiang posted on Weibo tagging Wang Wei and congratulated Tudou.com on its successful listing tonight. Although Tudou submitted its IPO application earlier than Youku, after going through the turmoil involving his ex-wife and accounting errors over the past six months, Tudou finally set its price at $29 and is expected to list on NASDAQ tonight.
"There is an old saying in China: good things come to those who wait, and eventually bear fruit. I wish for a significant rise in the stock price tonight. The future of China's online video industry is vast, and going public is just the beginning. Both Youku and Tudou will have competition but also cooperation, and we will continue our efforts to promote the healthy development of the industry and expand the market," G Yongqiang said on Weibo.
Previously, G Yongqiang had expressed that video websites going public in the U.S. would drive the industry's positive development, which he considered a good thing.
Sina Tech News, August 17th morning message: As Tudou.com went through twists and turns to finally go public, Youku.com, as both a competitor and former partner, showed empathy: Youku CEO G Yongqiang posted on Sina Weibo to congratulate Tudou on its successful listing tonight and wished for a significant increase in its stock price.
Based on Tudou's offering price of $29, Tudou's valuation is $822 million, which is one-third of Youku's $2.7 billion market capitalization.
G Yongqiang sent a Weibo blessing to Wang Wei of Tudou.com.
Related reports:
- Youku experiences eight consecutive trading days of decline, hitting a new low since its IPO.
- Youku fell sharply by 14% on Tuesday, hitting a 52-week low, possibly due to concerns about Tudou's IPO.
- Youku and Tudou announced their second-quarter financial results on the 9th, showing substantial revenue growth but continuing heavy losses.
Relevant thematic articles:
- Elementary school student dies after falling while climbing a wall to play table tennis on the weekend (with pictures)
- Two farmers catch a hundred-pound catfish
- Ditching TN screens: New wide-angle LCD monitor recommendations
- Kodak's patent value is five times its market value, potentially becoming an acquisition target
- A man's name was mistakenly recorded by the police, resulting in him carrying a 5-year record of illegal activities