Internet website Youku closes US$40 million in private equity funding

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Database Reference:  F231109-305
Business:  Youku
Location:  China, Beijing
Region:  Asia
Business description:  Video sharing website
Category: Video
Contact 1:  Victor Koo, Youku founder and CEO
Contact 2:  Eric Li, managing director of Chengwei Ventures 
Investors:  Led by Chengwei Ventures and the first closing was raised entirely from existing investors. Besides Chengwei, those investors include Brookside (Bain) Capital, Maverick Capital, and Sutter Hill Ventures.
Amount raised:  $40,000,000
Details:  “ has closed $40M in private equity funding in a first tranche of a growth financing round. Youku is in active discussion with other potential investors over a second tranche of the round, which will raise up to an additional $40 million. Including the first tranche for the current round, the company has raised $110 million in private equity funding, and $10 million in venture debt.

This latest round of funding will be used to syndicate professional media and produce Web-based content, to further enhance user experience, and on both PC-based and mobile R&D.”

Link:  Press Release
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