Ustream, the popular online live broadcasting service, just announced it has raised $75 million in a second round of funding led by Softbank. Updated: The actual funding is only $20 million, for now, with an option for Softbank to purchase more of Ustream by July 2011, by putting in another $55 million.
The company says it will use the cash in part to pursue opportunities in Japan, China, Korea and India, where it says there is an untapped market for live streaming video. There are lots of other players in the live broadcasting space, but Ustream is the biggest player, with about 50 million unique users a month (By contrast, Justin.tv says it has about 41 million unique users, while Livestream says it has about 17 million).
With the new funding, Ustream will also now have a big funding lead over its competitors. In total, it will have now raised more than $86 million, including $11.1 million in a first round from Doll Capital Management and Band of Angels in April 2008. Even more cash could be coming, since the company says “additional funding commitments are pending.”
USTREAM SECURES $75 MILLION SERIES B FUNDING FROM SOFTBANK
New Funding to Fuel Ustream Growth in the U.S. and Asia Pacific
Mountain View, Calif.