Youku Tudou posts heavy losses, eyes mobile sector

Youku Tudou posts heavy losses, eyes mobile sector

Youku Tudou Inc, China's biggest online video platform by the number of users, said on Friday that its mobile Internet business could help to boost revenues as third-quarter net losses increased.

The Beijing-based company reported third-quarter net losses of 91.5 million yuan (S$17.81 million), compared to a net loss of $7.6 million for the same period in 2011.

Youku merged with Tudou in August. The two websites now have more than 300 million viewers each week in China, according to Victor Koo, chairman and CEO of the company.

The company expects the mobile sector to contribute more revenue in the coming quarters.

The company said it witnessed "significant traffic growth" from mobile devices since the beginning of the year.

"We believe that mobile Internet is quickly becoming an important business unit that contributes significantly to our growth and further improves our overall economics," said Liu.

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