Another "Chinese YouTube" Raises Monster Cash

Michael Learmonth | June 30, 2008 4:30 PM

youkuvideo.jpgChinese video sharing site Youku.com raised a $40 million second round, including $30 million in new VC funding and a $10 million technology loan from Western Technology Investment, the company said, via PEHub. Maverick Capital led the round, and was joined by Brookside Capital, Sutter Hill Ventures, Farallon Capital, and Chengwei Ventures -- all previous investors coming back for more. With the new funding, Youku.com has raised a total of $80 million.

It's the second major funding round for a Chinese video sharing site this year. Tudou.com raised $57 million in venture funds in April. They're two of three sites laying the claim to be the "Chinese YouTube" with varying metrics. The third is 56.com, which has been shut down for weeks.

One thing to say about these would-be Chinese YouTubes, if they can navigate the Chinese government, they're pushing the envelope on advertising harder than YouTube's audience would tolerate. Tudou (SAI 25 #22), in particular, is trying a bunch of different ad schemes on user-generated video, a pre-roll display ad that opens like a curtain before the video starts to play.

Related: VC Dollars Still Pouring Into Video Startups

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10 Comments

Anthony (URL) said:
great video sites all over. China is the new market with major potential. Hulu, TidalTV and ZoogaTV are all great entertainment video portals in the U.S. i like
jmz said:
China will start WWIII with their new fangled video sites.

There are lots of hot girls in China and I hope before the War they will start dancing to beyonce on the Chinese U-tubes.
Ben said:
(You do the cash) You do the monster cash!
(A web 2.0 smash) Play videos with Flash!
(With monster cash) You might have to wait for it to cache
(Watch video mash) Because of monster cash!
UserName said:
digital signage advertising display[bacidiagjagibhe]
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edythe (URL) said:
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