Tuesday, March 06, 2007

US firms invest US$23.5m in UUSee -- Shanghai Daily | 上海日报 -- English Window to China News

"A GROUP of US venture capital firms, including Disney's investment arm, were set to announce today that they had invested US$23.5 million in UUSee, a major Chinese site for Web video.

UUSee distributes live and on-demand TV from CCTV, China's largest TV broadcaster; CSAT, China's largest satellite TV company; and Beijing TV. The content includes subtitled US shows like 'CSI: Miami' and '24.'

The investment round was led by Draper Fisher Jurvetson and Highland Capital Partners. It included Steamboat Ventures, the venture-capital vehicle of The Walt Disney Co. Two other firms, Sequoia Capital and Susquehanna International Group, invested in UUSee in a previous round and joined in this one, The Associated Press reported.

The site has 36 million registered users, making it China's largest Web TV operator, according to Dan Nova of Highland. "

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