The Chinese online video fundings are still continuing, and now seems to have graduated into more tech/backedn type of deals than consumer: Video software company Baofeng.com has received $15 million in VC funding. The round was led by Matrix Partners China and IDG, and the money will be used in developing its flagship product, the Baofeng Storm Codec. It is like the Brightcove of China, providing online video services to media companies such as *Sohu.com* and PPS. Some more about the company here.
By Rafat Ali