SB China Capital (SBCVC)and Youku Tudou are among investors who have likely lost tens of millions of U.S. dollars as popular Chinese youth video sharing platform AcFun shut down operations yesterday. The website and mobile apps of AcFun are no longer accessible. A week earlier, AcFun’s official Weibo account released a message that read “I want to live another five hundred years!” But years of improper management, frequent management changes, and an inability to obtain an official business licenses have …

SBCVC, Youku Among Investors Losing Tens Of Millions As Popular Youth Video Sharing Firm AcFun Shuts Down appeared first on China Money Network.