Concerns over online video limitations in China aren't stopping the flow of money into the sector Youku says it has raised a $40 million fourth round from past backers Brookside Capital Partners, Sutter Hill Ventures, Farallon Capital and Chengwei Ventures, plus a $10 million equipment loan from Western Technology Investment. Altogether, the company has now raised $80 million. The site is one of a handful of heavily-backed Chinese startups in this space, including Tudou.com and 56.com, which remains offline. Release.
By Joseph Weisenthal