SubscribeIPTV Developer UUSee Raises $20M USD
Beijing based, CCTV’s IPTV partner UUSee has announced $20M USD investment from DFJ, Highland Capital, Steamboat Ventures, China Business News is reporting.
In Dec. 2005, UUSee raised first round of funding from Sequoia and Susquehanna International Group (SIG) for about $10M USD.
An earlier report shows UUSee has just passed 30M user mark, and it also has more than 3M mobile users. The company profile shows they established in 2003, but they haven’t launched a web platform until the end of 2005, when they raised first round of funding.
UUSee is not a video sharing site like Youtube. Their main services include: 1. a web based video platform, with programs mainly from movies and TV, although we cannot make their player work in Firefox; 2. a p2p video client; 3. a video widget service called TV-bar, so that any website can immediately get video with a piece of embedded code.
Their web site shows they have just rolled out a major re-design of the site in Jan.
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China Web2.0 Review is a blog dedicated to track web2.0 development, review and profile web2.0 applications, business and services in China.
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Sequoia partner Zhang Fan was quite convinced when I spoke to him a couple of months ago that what UUSee is doing isn’t fundamentally different from what Joost (then still under the name “The Venice Project”) was doing. Definitely some conceptual similarities, right? But now that Joost is out and people have tried the Beta, what do you think–aside, of course, from the very different quality of content available on the respective channels?
It is great to see IPTV starting getting some momentum. This definitely great news for customers as this will offer more choices and put pressure on cable companies to lower their prices.
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