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Ku6.com Raises Several Tens of Millions of U.S. Dollars in Second Round Financing
Jul 21, 2008 (08:07 AM EDT)
BEIJING, July 21 /Xinhua-PRNewswire/ -- Renowned Chinese video-sharing website Ku6.com ( http://www.ku6.com ) announced today the completion of the Company's second round of financing. This round of investors involved UMC Capital, SBI, Itochu and Hotung Group. DFJ and DT China, two first-round investors, also increased their investment. Investors will support the development of the Ku6 website and enhance its leading position in video-sharing by offering both solid capital and rich industry resources, which is expected to open up a new chapter in the commercial development of video-sharing websites in China.
The Ku6 website was founded by internet media veteran, former Sohu senior vice president and chief-editor Kevin Li in Beijing in June 2006. After two years of development, Ku6, based on its sound and practical operation style, customer-oriented business culture and powerful execution strength, quickly stood out amongst competitors and became one of the first video-sharing websites and a frontrunner in commercial exploration. Ku6 first won the license for private video-sharing websites issued by the State Administration of Film, Radio and Television in June 2008, and by sealing a deal with CCTV.com for Olympic Games videos broadcasting rights, Ku6 became the only video-sharing website allowed to broadcast the Olympic Games.
CONTACT: York Yao, +86-10-6232-1818, or Yaojianjiang@ku6.com
Web site: http://www.ku6.com/