Joost Closes $45 Million in Financing

JoostRemember 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 ( to accelerate product development, global expansion, localization, and service offerings. (So we can expect more TV channels?) :D

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, “With the quality, content, speed and usability of Joost’s platform, and the community-targeted service offerings, we expect Joost will revolutionize the Internet television market.”

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