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Joost Raises $45 Million

Posted by: Heather Green on May 10

Joost announced that it raised around $45 million from Index Ventures, Sequoia, Li Ka Shing Foundation, CBS and Viacom. Talk about new and old money joining hands around the campfire. The company officially says the loot is to accelerate “product development, global expansion, localization, and service offerings.” No kidding. That’s a lot of money it could throw at engineers. Or hey, throw at anything.

As already announced CBS and Viacom are content partners with Joost. And of course, Viacom has that nice suit against YouTube. Another nutty little tidbit to chew over: Roelof Botha, the VC partner from Sequoia who herded YouTube along is the general partner quoted in the press release. Okey, so many YouTube and Joost are doing attacking different parts of the market (short clips v. long-form high resolution video), but you can’t doubt that YouTube has to have it’s eye on longer form as well.


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Reader Comments

Stefano Iglesias

May 20, 2007 12:02 AM

Joost boys know how to do their PR! But the problem is that eventually Joost type services won't survive. The big TV channels and providers won't be sitting twiddling their thumbs, because as we're seeing in IPTV all over the world, it's not the technology that is holding us back, but the delay from content owners to get on the bandwagon. All this brouhaha about a simple idea such as streaming video into the home makes me wonder if Conan O' Brien may have gotten it right! Was Conan O'Brien on to something when he commented on all these Joost type services that are popping up? - http://blogs.pcworld.com/tipsandtweaks/archives/004369.html

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