Tuesday, May 8, 2007

Joost Raises $45 Million from VCs and Media Companies

Joost has raised $45 million in funding to support the rollout of its Internet TV service. The funding came from five selected parties, each of whom invested in a minority percentage of the company. The investors include Index Ventures, Sequoia Capital, Li Ka Shing Foundation, CBS Corporation and Viacom.

As previously announced, CBS and Viacom are also content partners, providing channels and programming on Joost. In addition to its investment, CBS has contributed more than 2,000 hours of CBS entertainment, sports and news programming.


See also