Youku.com receives US$30 million investment

Youku.com receives US$30 million investment

Youku.com is one of the most popular video sharing destinations in the Chinese market.

However, the company was not on the Chinese government’s recently released list of approved web services to provide video sharing.

Youku.com has revealed that they have received an investment of US$30 million.

The company added in a statement that they are expecting to receive the government’s permission in the coming weeks.

Market analyst David Wolf spoke about this new development: “Youku’s recent successful round of funding is yet another indicator that despite continued and serious regulatory uncertainty, investors remain hopefully optimistic that the sector will exist long enough to find a business model.”