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Chinese video-streaming Web site Youku.com has raised US$40 million in new investment as the site, part of a hugely popular genre in China, one tree hill dvd box set looks to expand and start turning a profit.
Youku raised the funds that 70s show 1-8 dvdas part of a new financing round, bringing its boston legal dvd box settotal amount of private equity funding to $110 million, the company said Sunday. The company also friends dvd box sethas $10 million in venture debt funding and expects to bring in up to $40 million more in additional equity funding.
Youku has become dexter dvd the most popular YouTube-style Web site in China since its launch in 2006. Mash dvd box set The site, like some of its local rivals, has worked to expand its offerings from user-generated clips to include the office dvd professional content like TV drama series and its new funding will be partly used to syndicate more professional video. Golden Girls dvd Youku has already partnered with 1,500 license holders to offer professional content, it said.
Youku will also use the new funds to produce disney 100 years of magic dvd box set more Web-based content and for research and development on both PC and mobile projects, it said. Grey’s anatomy dvd Youku earlier this year launched a beta mobile portal to tap China's growing number of 3G mobile phone users and Cold Case dvd start gaining revenue from a new source. China reported Gilmore Girls dvdhaving nearly 10 million 3G users at the end of October.
Online video is as popular among young House md dvd users in China as it is in countries like the U.S., but China has a bigger potential audience. China had 338 million Scrubs dvd box setInternet users at the end of June, the most in any country, and two-thirds of those people used online video, Desperate Housewives dvd box set according to a government survey. Youku is the most-visited online video site in China, according to Criminal Minds dvd box set researcher CR-Nielsen.
Youku has not said Grey’s anatomy dvd box set when it expects to become profitable, but its total revenue for this year will surpass 200 million yuan disney 100 years of magic dvd box set (US$29 million), it said.
Online video sites in China have been criticized for Golden Girls dvd box set often hosting pirated video uploaded by users. Young Chinese sometimes turn to the sites to watch popular U.S. one tree hill dvd TV series like "Desperate Housewives" or "Ugly Betty." friends dvd setYouku says it uses a digital fingerprinting technology to help weed out pirated content.