Tudou founder wang tens of millions of dollars of financing business again: do the studio!

Beijing time on March 13, according to foreign media reports, after operation of China’s biggest online video sites, tudou founder wang started his next project is speeding up, the Chinese version of the Pixar.

as China’s leading Internet entrepreneurs, wang plans to create a animation film studio in Beijing next month. The studio will be the first to make a movie for the domestic audience. 39, wang said he has been raised from international investors tens of millions of dollars in funds. But wang did not disclose the names of investors.

wang said, “I can’t do this five years ago, but now is the right time,” he is referring to the Chinese film distribution channel, promotion and the improvement of copyright. , he said, with the increasing of domestic cinemas, urban income level has increased, the potential return on investment proves that this investment is correct.

according to government statistics, China has become the world’s second largest film market after the United States, the box office last year totaled 17.07 billion yuan ($2.74 billion).

although this growing market is huge, but China’s animation industry is still in its infancy, wang studio will challenge to Hollywood and its deep pockets. Many American families, animation dream factory “kung fu panda” series, has received acclaim from the audience in China, but there is no domestic alternative products. Last year, dreamworks and Shanghai Media Group, Shanghai Media Group), and the other two domestic joint venture founded a cartoon film company.

before dabbling in animation industry, wang in August last year resigned from his position as chief executive of tudou. At that time, he founded in early 2005 with rival tudou youku merged by nearly $1 billion of stock transactions. Although wang from tudou to growth of China’s online video market is credited, but because of copyright issues and buy authorized content spending make the company lack of cash for years, tudou has never been profitable.

in the new animated film studio was established on April 1, wang’s leadership will be tested again. He said, “considering the each film take years to make time, we must put a long view.” Has agreed to animation film studio, he says, fund investors, understand the nature of the business is long term.

wang was born in a doctor’s family in fujian province in southern China. When he was very hate homework, and experienced the defeat in the college entrance examination. In 1993, wang went to the city university of New York College of Staten Island (College of Staten Island) reading. Two years later, wang got his degree in international trade, and received his first full-time job, apparel buckle salesman. Wang said, even when wearing only a $90 suit doesn’t fit, don’t know Christian Dior (Christian Dior) how to pronounce, but his clients have included the fashion designer Anna Sue (Anna Sui), Isaac wheat raschig (Isaac Mizrahi), etc.

wang said, “travel to the United States I broadened horizons. I realize that you have totally different way of thinking.” Staten island, for example, an English professor of the college that his ideas can be rewarded. Although his first English essays, each segment is the professor with a red pen to mend, which failed in China is likely to mean that, but the still gave him the B – grade, reason is “thinking” in his homework.

later, wang studying computer science at Johns Hopkins university in Baltimore, and received a diploma European business school master of business administration (MBA). Before starting tudou, he worked in the German media giant bertelsmann.

has been compiled for the San Francisco ballet says wang, a Chinese drama script he believes his understanding of art and technology, combined with work in tudou with local content creators cooperation experience, to be able to make him in the new animation company in a better position.

wang told reporters in fluent English, except for talents in China, the company will also hiring directors in the United States, the storyboard senior designers and animators. In January of this year, he visited Los Angeles and San Francisco, and compared with candidates interview. He said, “all people very excited for the Chinese market leave deep impression to me.”

but also for the Chinese market, also means that wang’s new company will be faced with the desire to expand market in China to the fierce competition in the western rivals. DMG Entertainment, chief executive officer Dan dense, (Dan Mintz), said the Chinese action movie may depend on the local actors and language, but the animation is a completely different markets. He said, “animation film must direct confrontation with Hollywood.”

source: tencent technology