You’re reading it here first … SoftBank Capital, the U.S. VC group associated with SoftBank Corp., is investing $5.6 million in LA-based PureVideo, a digital media company specializing in online and mobile user-generated content. The company says it streams more than 84 million downloads a month to 5.8-plus million users via sites StupidVideos.com and GrindTV.com. StupidVideos is one of the largest video sites, according to Accustream iMedia Research.
Craig Cooper, a partner in Softbank Capital and co-founder of Boost Mobile, will join PureVideo’s board. He sees considerable wireless opportunity for PureVideo.
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