Sina Tech, 12/1/09
CEO Vincent Tao of Chinese P2P streaming video provider PPLive confirmed that the company has completed a new round of funding worth more than RMB 100 mln, and has joined the Shanghai municipal government's guidance fund. Industry sources say that PPLive has received investment from SAIF Partners, and that previous investors BlueRun Ventures and Draper Fisher Jurvetson (DFJ) also added to their investments. However, Tao did not disclose the investors or investment amounts included in this round.
Tao also said that prior to this round of funding, PPLive received strategic investment from Chinese internet giant Baidu (Nasdaq: BIDU).
Tao said he believes that PPLive has completed its rollout of critical network resources, and has sufficient cash flow.