The Chinese online video site, PPS.TV, has raised an amount of $20 million in the Series C of funding. The round was lead by LB Investment and was participated by previous investors Ceyuan Ventures and Qiming Venture Partners. The site which was launched three years ago, has previously raised funding in 2005 and 2007 from Ceyuan Ventures and Qiming Venture Partners.
Currently PPS.TV is visited by around 7 million every day. The site is progressing at a high rate and has left its competitors behind. Their competitors include PPLive which has 4 million users and UUSee which has 2.7 million users visiting the site daily.
The site contains 6,000 channels and is looking forward to increase the numbers. The categories maintained here are movie, TV, cartoon, TV Show, Sports and People. The current round of funding will help the site improve its performance and enhance its services in order to grow further.