Rupert Murdoch to invest in Chinese Internet Company
Chinese video and music Internet company Xunlei Limited gain a great man to believe and invest in their company. Media mogul Rupert Murdoch and his wife made a personal investment to the company amounting it US$ 29.4 million dollars.
Murdoch and his wife believed in the entrepreneurs that launched the company and is very confident that they can go a long way in building a successful company that deals in entertainment and at the same time respects the rights of copyright holders and their artists. The couple made their investment through RW investments last April. While visiting the Shanghai international Film Festival, Murdoch said the Chinese movie market have great potential, and an exciting market. The only problem it faces is the limited number of movie imports to China.
Murdoch investment was a secret and was made known just now by IDG new wire, also a shareholder of Xunlei Limited. Google also made investments in the company in the amount of US$ 5 million, which brings Xunlei value to US$ 10 billion.
Xunlei first launched its downloader in 2004, which allows users to download video and other content faster on Chinese Internet. The company is now working on filing a NASDAQ IPO to help raise money for date center, acquisitions of content, technological development other acquisitions and working capital.