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Startup Meme >> Youku climbs on dollars, raises another $30 million
Jun 30 2008

Youku climbs on dollars, raises another $30 million

Sardar Mohkim Khan   |  9 Views

youkuleft Youku climbs on dollars, raises another $30 million Youku, the Chinese online video sharing site has added another raise of $30 million in private equity funding. Along with that it has received an equipment loan worth $10 million. According to the CentreNetworks, the round was led by Maverick Capital, joined in by the Board of Directors that includes existing investors namely, Brookside Capital, Sutter Hill Ventures, Farallon Capital and Chengwei Ventures.

The total amount tat has been raised by Youku has touched $80 million with the US $10 million equipment loan provided by Western Technology Investment.

The site itself reports of having over 100 million unique visitors every month with an average monthly time of 300 minutes spent by each of the users, making it the sixth largest website in China in terms of time spent by each user. That’s not it, Youku also announced that it has signed up various partnerships for content that includes Universal Music, Huayi Music, EMI music and a band of local TV and music performers in China.

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