By Ariana Eunjung Cha
Washington Post Foreign Service
Friday, December 28, 2007; Page A01
SHANGHAI — For entrepreneur Gary Wang, the next new thing in China is a place where the country’s growing middle class, or “couch potatoes,” can watch free videos to their hearts’ content. His company’s Web site, Tudou (Chinese for potato), has become insanely popular insanely fast — more than 15 million users as of this month — and Wang dreams of the day when the company will have an IPO.
Flush with $30 million in venture capital, Wang has hired 95 employees, engineered a slick Web site and leased thousands of computer servers across the country.
But there’s one thing the company hasn’t managed to do: make a profit.
Wang’s company is typical of China’s dot-com boom.