PPLive Receives an Investment of 250 Million USD from SOFTBANK
SHANGHAI, Feb. 4, 2011 /PRNewswire-Asia/ -- On Feb 4th, 2011, PPLive (Shanghai, China) CEO, Dr. Vincent Tao confirmed that the company has received an investment of 250 million USD from SOFTBANK CORP. (Tokyo, Japan, Representative: Masayoshi Son). This is the Series D Round financing for PPLive. This deal is the single largest investment in a video company since Google's acquisition of YouTube. The size of funding raised is more than what other Chinese video companies have raised either from private investment rounds or from Initial Public Offerings (IPOs).
Founded in 2004, PPLive offers the most influential and high sticky online TV services, PPTV, including both live streaming and video-on-demand programming throughout China. PPTV has over a 200 million user installation base and 105 million active monthly users (as of Dec 2010). It is the premier aggregator of live TV programs and professional produced contents (PPC) including TV shows, drama, movies, sports, news and entertainment programs. PPTV offers advanced services with a variety of personalized or social functions for video viewing, such as collaboration with SNS and live chatting. Its average viewing time per person per day has reached over 2 hours and 30 minutes.
PPTV is powered by its proprietary video distribution technology, PPCloud, which combines edge computing and peercasting algorithms capable of supporting millions of co-current viewers for live and high quality videos faster, smoother and more cost efficient. PPLive's mission is to be the best online TV platform providing the highest quality videos anytime anywhere on any internet enabled device.
Tao says, 'We believe that online video is perhaps the largest industry disruption for TMT sector in the next 5 to 10 years. SOFTBANK is looking for a company who can not only win in China but also can be scaled to the other markets.'