Joost Raises $45 Million in Funding

Internet-based TV service Joost said it has raised $45 million from five investors: CBS Corporation, Viacom Incoporated, Sequoia Capital, Index Ventures (a European venture capital firm) and Li Ka-shing (chairman of Hutchison Whampoa Limited and Cheung Kong Holdings). The comapny declined to say whether it this is its first round of venture capital funding. Joost transmits video with peer-to-peer technology, the signature approach that co-founders Janus Friis and Niklas Zennstrom used to launch the hugely popular Skype and Kazaa. Joost has gone the mainstream route by signing deals with major content providers, including its new investors. Overall, Joost says it now has 150 channels of video.

News source: Physorg

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4 Comments

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Why can't corporations raise 45 million dollars for helping starving children in 3rd world counties instead?...

what a stupid world...

For those who can't see potential in Joost is that you will eventually be able to create on-demand TV channel without being a huge TV network. You decide the content, you collect the advertising, Joost provides technology.

If you wanted a new venture, I suggest drafting your own TV channel powered by Joost

Long live broadband.