UUSee – Chinese Youtube+Joost gets $23.5 million


Draper Fisher Jurvetson and Highland Capital Partners have combined to lead the $23.5 million investment round in one of the largest Web video company – UUSee. Other investors in the round included Steamboat Ventures, the venture-arm of Walt Disney Company. Sequoia Capital and Susquehanna International Group, who had invested in UUSee’s previous round, also joined in this one.

UUSee claims to have 36 million users and distributes live and on-demand TV from CCTV, China’s largest TV broadcaster; CSAT, China’s largest satellite TV company; and Beijing TV. UUSee already incorporates Joost like p2p feature to to distribute video to other nearby viewers. This gives a good chance of breaking-even to UUSee since it is not burning dollars on bandwidth like Youtube on its end.



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