Chinese Video Portal Video Portal LeTV Gets $7.7 Million Funding

This story was written by Rafat Ali.
The funding for Chinese online video sites just keep on coming: Beijing-based online video portal has received first round investment of about $7.7 million, lead by Shenzhen Capital Group, Nanhai District Enterprise Growth Investment Trust Fund, and Beijing Huijin Lifang Venture Capital and joined by an unnamed non-venture capital firm, the company announced. It hopes to go public on the local Shenzen exchange in the near future, it said. A Chinese language story from Reuters on this funding is here (rough Google translation here).

By Rafat Ali