China Internet TV IPO Filing: Youko.com (YOKU)

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Youku.com Inc. has just filed its paperwork with the SEC to pursue an initial public offering in America via ADS share sales.  After the success of China’s IPO class of 2010, it is hard to blame the company for wanting to debut.  The company claims to be the leading Internet television company in China.  It plans to list under the ticker “YOKU” on the New York Stock Exchange.

The company claims that its Internet television platform enables consumers to search, view and share high-quality video content quickly and easily across multiple devices. “Youku” as a name stands for “what’s best and what’s cool” in Chinese.

It also claimed approximately 203 million monthly unique visitors from homes and offices in September 2010 and approximately 61 million monthly unique visitors from Internet cafes in August 2010.  It also notes that it has 40% market share in terms of total user time spent viewing online videos in China during the second quarter of 2010, versus its closest competitor at 23% market share.

The book-runner is listed as Goldman Sachs (Asia), and other underwriters are Allen & Company, Piper Jaffray, and Pacific Crest Securities.  Terms were not disclosed, although for filing purposes it filed to sell up to $150 million in Class A Ordinary Shares.

JON C.  OGG