Chinese web video site PPS.TV snags $20M
PPS.TV, a Chinese online video site that attracts over 100 million monthly users, raised $20 million in third-round financing led by LB Investment and including contributions from Ceyuan Ventures and Qiming Venture Partners.
The three-year-old company, previously received backing from Ceyuan and Qiming in 2005 and again in 2007. With 7 million users visiting the site each day, it has already lapped major rivals PPLive (4 million daily users) and UUSee (2.7 million daily users), according… Continue Reading
PPLive, Chinese P2P video site, raises $21M
PPLive, a Shanghai based operator of a P2P video site, has raised $21 million in second round of funding. Draper Fisher Jurveston led the round, which also included DFJ’s China affiliate DFJ Dragon and previous investor BlueRun Ventures.
PPLive raised about $6 million last year.
News of the deal first appeared here.