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PPS Lands USD 28 Mln Funding from PCCW

Sina Tech, 10/18/11

Shanghai-based P2P video service provider PPS (PPStream) revealed today that it received USD 28.6 mln from Hong Kong telecom operator Pacific Century CyberWorks (PCCW) in May this year as part of fourth-round funding sought in Q2 2011. PPS declined to reveal the amount received in its latest round of funding.

An industry source has revealed that PCCW received nearly 2.4 mln shares in exchange for its investment in PPS, which according to the source comprised only "a fraction" of what PPS was able to raise through a fourth round of funding.

Keywords: Internet funding PPStream fourth-round P2P PCCW online video foreign operator

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