Despite censorship issues, two Chinese online video sites get large rounds of fresh funding
The third-largest video site in China, 56.com, has been offline for nearly a month due to what most observers believe is government censorship. But that’s not stopping rivals from raising more funding.
Youku, approximately tied with Tudou as the largest video site in the country, has just closed a $30 million round led by private equity firm Maverick Capital, with participation from existing venture and private equity investors.
A much smaller rival, called ku6.com, has also… Continue Reading
Stealth web company 1Verge Inc raises $25M
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… Continue Reading
Chinese site Yaolan.com raises $17.7M for mommy community
The US has already seen its explosion of mom-related sites: Mommy bloggers, social networks, shopping sites and more have proved to be one of the most successful Web 2.0 niches. Now a hefty funding for the Chinese site Yaolan.com from Foundation Capital and NSA Investments, reported by peHUB, makes it look as if China is the next frontier.
Yaolan is a community site, where moms can post pictures of themselves and their babies, take part in… Continue Reading
China roundup: Youku, Facebook and Qunar
Updated
While Silicon Valley takes a breather this Thanksgiving weekend from a hectic year of deal-making, the action continues over in China.
1) Well-connected China video site gets $25 million more
2) More rumors of Facebook purchases in China
3) Qunar, a Chinese travel search engine, raises $10 million
Well-connected China video site gets $25 million more – Youku.com is a thriving Chinese YouTube-style video sharing site, and has just raised another round of funding, according to Chinese news organization… Continue Reading
Popular Chinese video sharing site, Yoqoo, raises $12 million
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… Continue Reading