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The combined entity Youku Tudou Inc. represents a dominant leader in online video sector in China with the largest user base, most comprehensive content library, most advanced bandwidth infrastructure, and most effective monetization capability.

Since our inception, Youku Tudou as the leader in the multi-screen video space has helped transform how video and entertainment-related content is distributed and marketed.

Both YouKu and Tudou do original content for a number of years, and we position it based on our difference in terms of age demographic. And so the content itself is really more suitable for the brand itself.

'YouKu' means what's best and what's cool in Chinese. So, the whole product philosophy really revolves around how to help users, from a massive video database, finds what's best and what's cool.

Youku Tudou kicked off 2014 in a positive direction. Mobile has become the number one screen for Youku Tudou, and we are the undisputed leader in all of the important mobile video traffic metrics.

If Youku had adopted YouTube's business model, we just would not be here. We would not exist.

I do wish to emphasize that in light of the Alibaba deal, Youku Tudou management will remain independent, and we will continue to be open to opportunities for cooperation with other strategic partners going forward.

Netflix, Amazon, iTunes - whatever platforms emerge - we are looking at as having the same potential that home video had for the movie business. Which means there are entirely new opportunities to monetize our capital investment in content and do so in ways that work for distributors, for consumers and for creators.