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.
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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.
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