Monday, February 1, 2010

Ustream Raises $75 Million from Softbank for Mobile Streaming

Ustream, a start-up based in Mountain View, California, announced a $75 million Series B funding round lead by SOFTBANK of Japan. The funding will support Ustream's one-to-many live streaming to Internet and mobile devices.

Ustream delivers live streaming video programming, delivering premium and celebrity-powered events in partnership with leading media companies. The company offers a live streaming application for the iPhone which has been downloaded more than 1.5 million times.

Additional funding commitments are pending from other investors in the U.S. and Asia. The funding will help fuel Ustream's growth in the U.S. and Asia Pacific, specifically to pursue opportunities in Asia in Japan, China, Korea and India.

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