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Alibaba Leads $1.22 Billion Stake in Video Site Youku Tudou

Alibaba Headquarters | Source: Alibaba
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  • Bloomberg

Alibaba will hold about 16.5 percent of Youku while Yunfeng will have about 2 percent, Youku Tudou said in a statement today. The deal will close in the near future, with Alibaba Chief Executive Officer Jonathan Lu to join the board, it said.

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