Google's investment in Xunlei, based in Shenzhen, south China, may help it tap growing popularity for online videos in the world's second-biggest Internet market. The Mountain View, California-based company in October paid $1.65 billion to buy Youtube.com, a Web site that lets users post videos for others to watch.
Existing investors in Xunlei include IDG Venture Capital and Morningside Asia Advisory Ltd. The Chinese Web site also has partnership agreements with companies such as Motorola Inc., Sina Corp. and Shanda Interactive Entertainment Ltd., according to its Web site.
China was home to 123 million Internet users at the end of June, second only to the U.S. The world's most-populous nation may surpass the U.S. as the biggest Internet market by users within the next two years, according to William Bao Bean, an analyst at Deutsche Securities Ltd. in Hong Kong.
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