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May 10, 2007
Joost Raises $45M From Sequoia, Index, Viacom et al.
Joost, the latest from Zennstrom and Friis, has raised $45M worth of financing from Index Ventures, Sequoia Capital, Li Ka Shing Foundation, CBS Corporation and Viacom. This confirms the whispers we've been hearing about this IPTV platform for the past couple of weeks.
And it also shows that capitalism doesn't hold a grudge. The two founders have gone from being the target of lawsuits from big media companies (they also founded Kazaa.com the music download service) to being the target of their investment and strategic partnerships in a few short years.
This deal is also yet another Euro investment for Sequoia.
The capital will be used accelerate product development, global expansion, localization, and service offerings, according to the PR.
And we posit it will be used to pay for all this gear Joost is buying
View Joost
Posted on May 10, 2007 06:48 AM | Posted to News And Updates | Permalink
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