Wednesday, June 06, 2007

VC fund to make Mickey Mouse famous in China

"Steamboat Ventures, a venture-capital firm established on behalf of The Walt Disney Company, has invested in three Chinese start-up companies that have a strong presence in Internet broadcasting, including the country’s largest Web TV operator UUSee, which also distributes programming from the state-run government channel CCTV.

In March, Steamboat invested—along with Silicon Valley firms Draper Fisher Jurvetson and Sequoia Capital—in UUSee, China's largest Web TV operator with more than 36 million registered users. UUSee is the only peer-to-peer network approved by China and distributes programming from state-run CCTV. Steamboat also put money into the video-sharing Web site in December."

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