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
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