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

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website

FUND RAISING 
Database Reference:  F231109-305
 
Business:  Youku
Web:  http://www.youku.com
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:  “Youku.com 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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Shanda to buy 58% of web video sharing business ku6

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