EO: Throughout the whole listing process, which part were you most nervous about?
Wang: I was most nervous during the three most crucial moments of the listing process. The first was when we submitted the listing files to the SEC, the second was announcing the listing and the third was setting the price. The whole listing process took place during a market slump. For example, on the day after we listed on the Hong Kong market, the Hang Seng Index fell sharply, the day after we arrived in the US, they announced the credit downgrade.
EO: Being listed is a big event for Tudou, how do you view the importance of being listed for the company?
Wang: Being listed on the market is just one thing, after finishing that, we move on to the next. But Tudou will gain a lot of capital after being listed, more importantly it opens up a financing channel for the firm.
EO: When Tudou was listed on the market, the fund managers were on vacation, how many people attended the banquet during the roadshow?
Wang: At that time, the fund managers really don't like to go out, some stay at home and look at the computer the whole day. On the other hand, there are a few fund managers who are willing to cancel their holidays for the sake of a good firm. Our Hong Kong banquet was held in a hotel and we arranged more than 10 tables, they were completely filled, many attendees were even forced to stand and listen until the end.
EO: During this IPO, what kind of business story did Tudou tell its investors?
Wang: Tudou has always been building and will continue to build a "YouTube + Hulu + HBO" comprehensive media platform that is based on UGC (user-generated content) + original film and TV + in-house content, that incorporates a pay-per-view element like Netflix. Tudou also wants to become the first in the industry to initiate a wireless video platform, to be a much more comprehensive platform and a leading online video brand in China, through expanding the unique and different video content and the active user community. The investors in the US are very smart because they are familiar with this type of business model, so they are able to easily accept it.
EO: Now that Tudou is listed, you previously mentioned that videos are the capital for business, with Youku's capital and power becoming stronger, what is the potential for the online video market from now on, what kind of structure will emerge?
