Joost Closes $45 Million in Financing
Remember the free web TV Joost? It starts to earn huge revenue. (p/s: without internet ads yet)
According to BUSINESS WIRE, Joost announced that five selected parties have collectively invested approximately $45 million in the company. Each party invested in a minority percentage of the company. This funding will enable Joost (www.joost.com) to accelerate product development, global expansion, localization, and service offerings. (So we can expect more TV channels?)
The five selected company include Index Ventures, Sequoia Capital, Li Ka Shing Foundation, CBS Corporation and Viacom Participate in Round.
As what Mr. Li Ka-shing stated, â€œWith the quality, content, speed and usability of Joostâ€™s platform, and the community-targeted service offerings, we expect Joost will revolutionize the Internet television market.â€
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