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2007'02.01.Thu
Toodou.com receives second round of financing of US$8.5 million
May 15, 2006

    SHANGHAI, China, May 15 /Xinhua-PRNewswire/ --
Toodou.com announced the completion of an US$8.5 million,
Series B financing round, co-led by Granite Global Ventures
(GGV) and JAFCO Asia (JAFCO).  IDG Technology Venture, the
Series A round investor, also participated in the round.

    Toodou.com is a multimedia podcasting web site that
allows average Internet users to share original audio and
video clips.  Launched on April 15, 2005, Toodou.com has
rapidly developed a reputation as the leading video sharing
company in China. 

    "There were 5 of us when we closed the Series A
round 5 months ago.  Now we have a 20-person team.  We want
to use this round of financing to bring in more talented
engineers so together we can build this great company into
something even greater," said Gary Wang, Founder/CEO
of Toodou.com.  "We are also excited to have Granite
and JAFCO, two firms with great track record, joining IDG
to form our investor group."

    As demand for original local content becomes
increasingly strong in China, especially among young
people, Toodou will continue to provide a much-needed
outlet for innovative content creation, and excellent venue
for highly personalized entertainment.

    Helen Wong of GGV and Sam Lai of JAFCO will join the
board of Toodou.com.

    About Granite Global Ventures

    Granite Global Ventures is an expansion-stage venture
capital firm focused with approximately $400M under
management.  The firm was founded in 2000 and has offices
in USA, China and Singapore.  Granite Global Ventures
brings a depth of experience in investments, cross-border
business development activities, mergers and acquisitions,
and IPO transactions.  Its China investments include
Alibaba (recently combined with Yahoo!), Hurray Solutions,
and AAC Acoustics.

    About JAFCO Asia

    JAFCO Asia was established in 1990 and currently
manages several long-term funds with aggregate capital
under management of approximately US$850 million.  It
invests in promising young technology enterprises with high
growth potential in the Asia Pacific region.  JAFCO Asia
offers in-depth local knowledge and has five offices: Hong
Kong, Beijing, Taipei, Seoul and Singapore.  Over the past
15 years, it has invested over US$700 million in 278
investees in the Asia Pacific region.  In the last four
years, JAFCO Asia has shifted its focus entirely to
technology investments.  Its China investments include 3721
(acquired by Yahoo China), China Wireless and China
Grentech.

    About IDG Technology Venture

    As one of the earliest American venture companies to
enter the China market, IDGVC is managing more than $500M
funds with investment focus on the Internet, information
services, software, telecommunications, networking
technology and life sciences.  IDGVC has invested more than
100 companies.  Among its many successes are several now
listed on the NASDAQ exchange, including Sohu, Ctrip, Baidu
and JRJ.   

    For more information, please contact:

     Vega Chen of Toodou.com
     Mobile:  +86-1381-829-1212     
     Email:   vega@toodou.com

SOURCE  Toodou.com

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