Youku, Chinese YouTube Reproduction Raises $25m
Money flowing into Internet video startups doesn’t appear to be slowing down. Just the opposite, the sector continues to expand globally. Pacific Epoch reports Chinese language site Youku.com has closed a $25m Series C Financing.
The round was led by Brookside Capital Partners (subsidiary of Bain Capital) and the Company’s three existing investors Sutter Hill Ventures, Farallon Capital Management and Chengwei Ventures.
Youku.com is very much like a Chinese languageYouTube, right down to the colors and layout of the pages. Also like YouTube, it is a forum for displaying and interacting with user-generated/user-submitted videos.
The company has previously raised $15m. Farallon Capital Management seeded the company with $3 million in March 2006. Sutter Hill Ventures, Farallon Capital and Chengwei Ventures added an additional $12 million in December 2006.
The company will use proceeds to expand their server and operational capacity. The company reportedly displays more than 70m video clips daily. They have an Alexa Traffic Rank of 124.
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