Tudou Announces Resignation of Chief Operating Officer
12 July 2012 - 11:09PM
Tudou Holdings Limited (Nasdaq:TUDO) ("Tudou" or the "Company"), a
leading Internet video company in China, today announced that Ms.
Evelyn Wang has tendered resignation from her position as Chief
Operating Officer ("COO") due to personal reasons. Ms. Wang will
continue to assist the Company throughout the ongoing merger
process with Youku, Inc (NYSE:YOKU) ("Youku"), which remains on
track to close during the third quarter of 2012, subject to closing
conditions including approvals by Youku's and Tudou's shareholders.
"I would like to sincerely thank Evelyn for her expertise and
dedication to Tudou during her tenure as COO and her continuing
assistance during our merger with Youku. She has made significant
contributions to Tudou's success, and we wish her the very best in
her future endeavors," commented Gary Wang, Founder, Chairman and
Chief Executive Officer of Tudou. "Together with Youku, we remain
confident in our combined ability to generate significant benefits
from the merger, which will drive future growth and extend our lead
as China's premier online video company."
About Tudou
Tudou Holdings Limited (Nasdaq:TUDO) is a leading Internet video
company in China providing premium licensed content, use generated
content ("UGC") and original in-house produced content. Founded in
2005, Tudou was the first UGC video sharing website launched in
China. The "Tudou" brand is one of the most recognized Internet
brands in China, and the annual Tudou Video Festival has become a
signature event in the online video industry. For more information,
please visit http://ir.tudou.com.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements
can be identified by terminology such as "may," "will," "expects,"
"anticipates," "future," "intends," "plans," "believes," "aims,"
"estimates," "confident," "likely to" and similar statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company's ability to execute its business strategies, plans and
initiatives; the Company's future business development, results of
operations and financial condition; changes in the Company's
revenues and certain cost or expense items; the Company's
expectations with respect to increased revenue growth and its
ability to sustain profitability; the Company's ability to develop
new services; the Company's ability to attract users and
advertisers and enhance its brand recognition; and the ability of
the online video and advertising industry in China to grow at rates
projected by market data. Any of the foregoing risks may have a
material adverse effect on the Company's business and the market
price of its ADSs. Further information regarding these and other
risks is included in the Company's 20-F filed with the Securities
and Exchange Commission on March 30, 2012. All information provided
in this press release is current as of the date of the press
release, and the Company undertakes no duty to update such
information, except as required under applicable law.
CONTACT: Investor Relations Contact:
Michael S. Fu
Director, Investor Relations
Tudou Holdings Limited
Tel: (+86) 21-5170-2355
Email: mfu@tudou.com
Jeremy Peruski
ICR, Inc.
Tel: +1 (646) 405-4884
Email: IR@tudou.com
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