Joost Receives $45 Million Dollar Nod Of Approval From VC Community
Internet TV company Joost has raised $45 million in venture financing. The nod of approval from investors comes just as its product hits the market. Investors include Sequoia Capital, Index Ventures, CBSCorporation, Viacom and Chinese billionaire Li Ka-shing.
Joost has gained publicity because it was started by Skype co-founders Janus Friis and Niklas Zennström. It has signed deals with several companies, including Viacom, CBS and Time Warner, to carry their content.
“This funding represents a tremendous vote of confidence in Joost’s platform,” said Janus Friis. “We’ve carefully selected these investors from a variety of interested parties, as they are best-in-class in their respective arenas and bring unique assets to Joost that will enable us to significantly accelerate growth and development of the company.”
Joost product is rumored to go live within the next several days according to a variety of sources. Internet TV remains to be a proven medium, but with financial backing like this Joost seems poised to do the job.
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