What Company Is Offering:
Youku.com is the leading video sharing website and premier online video brand in China. It is one of the top destinations for Chinese people to watch and share videos all over the world. In addition to user-generated content, Youku.com also works with more than 150 professional media partners to distribute online videos in China. Youku.com was officially launched in December 2006 and has grown rapidly since. Youku.com delivers more than 150 million daily video views as of June 2008 and total user time spent exceeded 30 billion minutes per month.
How Much They Got From VCs:
Youku.com Inc., the leading online video website in China, today announced that it has raised an additional US$30 million in private equity funding, and secured a US$10 million equipment loan, to further expand its leadership position.
Maverick Capital led the financing round and joined the Board of Directors. All existing investors in the company, including Brookside Capital, Sutter Hill Ventures, Farallon Capital, and Chengwei Ventures, participated. The US$10 million equipment loan is provided by Western Technology Investment, which has provided venture debt to leading internet companies such as Google and Facebook.
More at:http://www.youku.com
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