China Grants License To Would-Be YouTube, Youku

Investors that have poured $80 million into Chinese video site Youku can breathe a sigh of relief. The video sharing site, one of three vying to become the "Chinese YouTube," was granted a video license from the Chinese government this week, according to CEO Victor Koo.

This is a big deal: China's State Administration of Radio, Film and Television granted 247 video licenses this spring to the likes of Sina.com and SCCTV.com, but hadn't yet granted licenses to any of the top-three video sharing sites: Tudou, Youku, or 56.com.

[via Silicon Alley Insider]

Related: - A Chinese YouTube Disappears, Along With Millions Of Western Dollars. Next?

emily | 7:32 PM | News |
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