Chinese Video Sharing Site Youku Raises Additional $40 Million

Chinese online video sharing site Youku.com

• Raised an additional US$30 million in private equity funding

• Secured a US$10 million equipment loan.

• Maverick Capital led the financing round and joined the Board of Directors.
  

• Other investors include Brookside Capital, Sutter Hill Ventures, Farallon Capital, and Chengwei Ventures

• Western Technology Investment provided theUS$10 million equipment loan.

Stats :

• Youku self-reports over 100 million unique visitors per month
  

• Each user spends about 300 minutes per month on Youku.
  

• Youku is now the 6th largest website in China in terms of total user time spent. (iResearch)

Further Announcements:

• Content Partnerships withUniversal Music, EMI Music, Huayi Music besides large number of top film, TV and music performers in China.