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Sina Buys $66.4 Million Stake in China Video Site Tudou

Sina Corp., owner of China’s third-most popular website, paid $66.4 million for a stake in Tudou Holdings Ltd. to boost its investments in online video services.

Sina acquired 1.075 million American depositary receipts at Shanghai-based Tudou’s initial public offering in the U.S. this month for $31.2 million, it said in a filing to the Securities and Exchanges Commission yesterday. Sina spent $35.2 million for an additional 1.49 million Tudou ADRs, after the listing, taking the total holding to 9.05 percent, according to the filing.

Sina is adding video, social-networking and electronic commerce services to attract users in the world’s biggest Internet market. The...