Yoqoo.com, a Chinese company that resembles YouTube, has raised $12 million in venture funding from Sutter Hill Ventures, Farallon Capital and Chengwei Ventures.
The Chinese love affair with “oo” names continues (lately, there’s been Ucloo, Qihoo among others), and if you’re competing against YouTube, why not throw in a “Y” as well.
The company was founded by former Sohu President Victor Koo and launched in June, and says its users watch millions of videos daily.
Len Baker of Sutter Hill Ventures led the investment. Baker was very early to invest in China, and is a major subject of this book China Dawn.
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10:54 pm
Cin YouTube’u YoQoo | Okyanus Ötesi said:
[...] Daha gecen gun ise yazdigim Web 2.0 ve Fikir Zaman asimi yazimda ulkemizde bu tip girisimler icin gec olup olmadigini tartismaya calismistim. Bugun VentureBeat‘ten ogrendim ki Cinlilerin de kendi YouTube’lari varmis. Dahasi, YoQoo adindaki bu video paylasim sitesine Sutter Hill Ventures $12 milyon dolar yatirim yapmis. [...]