The 100 Most-Promising Private Technology Ventures Celebrated at Event in Hong

Kong, China

SAN FRANCISCO, Calif., Aug. 29 /Xinhua-PRNewswire/ -- Red Herring Magazine announced today that the leading Chinese video-sharing company Youku.com has been officially selected as a winner of the prestigious Red Herring 100 Asia 2007 awards. The news will be announced at a gala dinner during the Red Herring 100 Asia event in Hong Kong, China, taking place from August 29 to 31.

Winners were selected from a pool of more than 500 applicants based in 16 countries/regions including China, India, Japan, Singapore, Korea, Australia and Vietnam. The Red Herring editorial team carefully selected the winning companies based on both quantitative and qualitative criteria such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their ecosystem. The 100 winners are based in 16 countries/regions including China, India, Japan, Singapore, Korea, Australia and Vietnam.

"After a rigorous evaluation process, we're very happy with winners we selected," said Joel Dreyfuss, Editor-in-Chief of Red Herring. "There was a large pool to choose from and we're impressed by the caliber and innovative talent bursting from Asia's business and technology sector."

"Winning Red Herring's prestigious 100 Asia awards is yet another recognition of Youku.com's leadership position in China's video sharing sector," said Founder & CEO, Victor Koo, former President of Sohu.com. "We are very happy with the rapid and accelerating growth we have achieved since our beta launch in June 2006. We are committed to cement our leadership position in video sharing in China and to provide the best service to China's online and advertising communities."

Besides the Red Herring 100 Asia award, Youku.com was also ranked #1 in user popularity by the recent China Internet Society survey in July 2007. These results demonstrate the rapid progress that Youku.com has achieved after just over one year of successful operation.

The finalists and winning companies will be celebrated at the Red Herring 100 Asia event in Hong Kong, on August 29-31. Red Herring 100 Asia is an exclusive event honoring 100 cutting-edge private technology companies from across the Asia-Pacific region. The event brings together an elite roster of entrepreneurial and global venture investment firms to showcase excellence in innovation. It features three days of keynote discussions, roundtable panels and networking events designed for participants to make connections and learn what it takes to achieve the best in business and technology in Asia. Distinguished speakers on Red Herring 100 Asia include Richard Li, Chairman of PCCW; SeHyun Oh , Chairman of SK Telcom; John Chen, Chairman of Sybase; Victor Koo, CEO of Youku.com; James Ding, Chairman of AsiaInfo; John Hummelstad, Apac Director of Microsoft Venture; and many others. For a full list of Red Herring 100 Asia speakers, visit http://www.herringevents.com/Asia07/speakers.html .

Register for RH 100 Asia at http://www.herringevents.com/Asia07/index.html .

About Youku.com

Youku ( http://www.youku.com/ ) is a leading video sharing site and premier online video brand in China. It is one of the top destinations for people to watch and share short-form videos in Greater China. Youku was funded by Sutter Hill Ventures, Farallon Capital and Chengwei Ventures.

About Red Herring

Red Herring is a global media company uniting the world's best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine; an online daily technology news service; technology research, and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. For more information, visit http://www.redherring.com/ .

For more information, please contact: Youku.com Contact: Karen Chen Marketing Director Youku.com Tel: +86-10-8460-8668 Email: chenying@youku.com Red Herring Contact: Maggie Xiao Director Red Herring APAC Tel: +1-650-585-3419 Email: mxiao@redherring.com Media Contact Information and Accreditation: Jenny Chong Terpin Communication Inc. for Red Herring Tel: +1-310-821-6100 x103 Email: jenny@terpin.com

CONTACT: Karen Chen, Marketing Director of Youku.com, +86-10-8460-8668,
or chenying@youku.com; Maggie Xiao, Director of Red Herring APAC,
+1-650-585-3419, or mxiao@redherring.com; Jenny Chong of Terpin Communication
Inc. for Red Herring, +1-310-821-6100 x103, or jenny@terpin.com