Ustream, the provider of a live video streaming service that incorporates real-time interaction with social networks, has closed its latest round of funding, which could bring in as much as $75 million. The round, led by Japan’s Softbank, will give Ustream $20 million now, and Softbank has the option of investing up to $55 million more by July 2011.
Ustream sees about 50 million unique visitors monthly and is well known for its success with live music events. A recent feather for its cap was the American Music Awards, which brought in 3.4 million viewers. The company’s high note is President Barack Obama’s inauguration, which garnered 3.8 million viewers.
The company said funds will go to fuel growth in the US and Asia Pacific, specifically in Japan, China, Korea and India. "Asia offers a significant, untapped market opportunity for streaming video," said John Ham, Ustream founder and CEO. The company said Asia is a "very unique environment" because of its "infrastructure, better mobile 3G penetration versus the US and a rapidly growing base of Internet users."
Ustream had the first live streaming app for the iPhone and has 1.5 million downloads. It’s popular for the iPhone 3G because it allows for video recording not native on that model. |
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