56.com aims to become YouTube of China, raises $20M
updated
While YouTube ran away with the video-sharing crown in the United States, the race is still heated in China, the world’s second largest Internet market and fastest-growing.
There, two leaders are fighting it out, Tudou.com and 56.com. Tudou commands 22 percent of searches for video on China’s most popular search engine Baidu, compared to 56.com, which gets 19 percent. In third place is Youku.com, with 13.9 percent.
56.com seeks to catch Tudou, today announcing it has raised… Continue Reading
VeriSilicon raises $20M more for chip design technology
VeriSilicon Holdings, a provider of a “system-on-a-chip” design technology, said it has raised US$20 million in a fourth round of financing.
The company is based in Santa Clara, Calif, with operations in Shanghai, China.
The company has now raised US$58 million since it was founded in 2001.
From the release:
This round was led by China Investment Fund (CIF), a business alliance between IBM and Lehman Brothers, and joined by VantagePoint Venture Partners and existing investors including Austin Ventures,… Continue Reading