Update: PEHub got confused on this one, which confused us. Youku is actually part of 1Verge and the funding was actually for Youku, which we’ve covered here.
Victor Koo, founder of Chinese video-sharing site Youku, has a new venture called 1Verge Inc. While still in stealth, it is reportedly “focusing on wireless convergent and Internet media”. Koo, the former head of Chinese search company Sohu.com has raised $25 million for the company from Farrallon Capital, Chengwei Ventures, Brookside Ventures and Sutter Hill Ventures, according to peHUB.
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