Investors Brookside Capital, Sutter Hill Ventures, Farallon Capital, and Chengwei Ventures are throwing another USD30m into Chinese online video website, Youko.com even while the state is shutting some online video websites.
The investment they say is aimed at boosting the company’s already
rapid growth and broaden its sales and marketing network and speed up
monetary gains as the online video market matures next year. Media
reports quote President and CEO of Youku.com as saying: "With the new
funds, we will be deepening our service to users, advertisers and media
partners to give them the best and largest platform in China to
distribute video content online."
Youko has also reportedly entered into partnership with media groups
including Shanghai TV, Beijing TV, Jiangsu TV, China Film Group,
Universal Music, EMI Music, Huayi Music and a large number of top film,
TV and music performers in China.
Things are however not looking up for
its rivals, Chinese online video websites 56.com and Tudou.com which
have both had problems with the Chinese government in recent months.
56.com is currently closed but Tudou.com is still operational.
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