Shares Of Youku, China’s YouTube, Double At IPO

The Internet IPO is back—if you are a Chinese Internet company. Youku , the YouTube of China, saw its shares pop more than 100 percent in its IPO today. Shares were priced at $12.80 , but they are currently trading at $27.60. . That is a 116 percent jump. According to its SEC filing , the company lost $25 million on total revenues of $35 million for the first nine months of 2010. The company raised $120 million prior to the IPO, and another $203 million at the IPO.