BIZCHINA / Overseas Investment
Google to invest in SZ video Website
(Shenzhen Daily)
Updated: 2006-12-28 14:13
Google Inc, owner of the world's most-used Internet search engine, will
invest in Shenzhen Xunlei Network Technology Ltd, a Website that helps
users download videos from the Internet.
The investment will probably be disclosed next month, Henry Wang, head of
Xunlei's operations in Shanghai, said yesterday by telephone. He declined
to give further details.
Related readings:
Google, Baidu eye online video business
Google's steps into China Google considers blitz of market in mainland
Google launches Chinese name
Google's investment in Shenzhen-based Xunlei may help it tap growing
popularity for online videos in the world's second-biggest Internet
market. The Mountain View, California-based company in October paid
US$1.65 billion to buy Youtube.com, a Web site that lets users post
videos for others to watch.
Existing investors in Xunlei include IDG Venture Capital and Morningside
Asia Advisory Ltd. The Shenzhen Website also has partnership agreements
with companies such as Motorola Inc, Sina Corp and Shanda Interactive
Entertainment Ltd.
China was home to 123 million Internet users at the end of June, second
only to the United States. The country may surpass the United States as
the biggest Internet market by users within the next two years, according
to William Bao Bean, an analyst at Deutsche Securities Ltd in Hong Kong.
(For more biz stories, please visit Industry Updates)
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