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
U.S. investor troika doubles bets on Chinese video: Pump $8M into CTS
CTS Media, a Shanghai company that provides advertising within videos, said it has raised $8 million in a second round of funding.
The round was led by Steamboat Ventures, the venture arm of Walt Disney, and was joined by Draper Fisher Jurvetson and existing backer Sequoia Capital China, which led the first round. The three investors recently invested together in Chinese online video company, UUSee, so it makes sense they’d seek to want to monetize… Continue Reading