Chinese Video Portal Video Portal LeTV Gets $7.7 Million Funding

The funding for Chinese online video sites just keep on coming: Beijing-based online video portal has received a first round investment of about $7.7 million, led by Shenzhen Capital Group, Nanhai District Enterprise Growth Investment Trust Fund, and Beijing Huijin Lifang Venture Capital and joined by an unnamed non-venture capital firm, the company announced. It hopes to go public on the local Shenzen exchange in the near future, it said. A Chinese language story from Reuters on this funding is here (with rough Google translation here).

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