Chinese Video Site Youku Raises $40 Million Fourth Round
This story was written by Joseph Weisenthal.
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