Google to Invest in Chinese Video Web Site After Buying Youtube – John Liu

From Bloomberg

Inc., owner of the world’s most-used Internet search engine, will invest in Shenzhen Xunlei Network Technology Ltd., a Chinese Web site 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 today by telephone. He declined to give further details.

Google’s investment in Xunlei, based in Shenzhen, south China, 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 $1.65 billion to buy Youtube.com, a Web site that lets users post videos for others to watch.[Full Text]

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