Thursday, May 10, 2007

Joost Announces $45 million Funding

Internet TV startup Joost raised $45 million in a venture round of financing reported by Techcrunch. Investors include Sequoia Capital, Index Ventures, CBS Corporation, Viacom and Chinese billionaire Li Ka-shing.

The company has not previously disclosed any financings. Joost was started by Skype founders Janus Friis and Niklas Zennström in 2006.

Viacom and CBS have also signed content deals with Joost, so this looks like it will be their main online TV play. Joost is currently in private beta and is rumored to be launching within days.

Is this going to be another similar Skype runaway success story? You have to try out Joost to see the whats all the hype all about on online TV. It has good contents and delivering a whole new experience of watching tv online. You can connect it to your tv and get almost digital high quality contents delivered directly to you. While its a great service and great concept, its going to be a nightmare for your ISP as its really a bandwidht guzzler.

As its still in beta mode, you need to be invited to try it out. If you need invite, please drop me a comment.

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