Youku.com has closed a funding round of $40 million. The Chinese video sharing site said in a statement it had netted $30 million from existing investors Brookside Capital Partners, Sutter Hill Ventures, Farallon Capital and Chengwei Ventures.

Published: 01 Jul 2008

Youku.com has closed a funding round of $40 million. The Chinese video sharing site said in a statement it had netted $30 million from existing investors Brookside Capital Partners, Sutter Hill Ventures, Farallon Capital and Chengwei Ventures.

The remaining $10 million is from a loan by Western Technology Investment.

As per the information available, last year Youku had completed three rounds of venture financing totalling $40 million, including from Brookside Capital, Sutter Hill Ventures, Farallon Capital and Chengwei Ventures.

Launched in December 2006, Youku has more than 100 million daily video views, according to research firm Nielsen/NetRatings.

The media shared that this is the second major funding round for a Chinese video sharing site this year. Tudou.com raised $57 million in venture funds in April.