A group of U.S. venture capital firms, including Disney’s investment arm, was set to announce today that it had invested $23.5 million in UUSee, a major Chinese video website.
UUSee distributes live and on-demand TV from CCTV, China’s largest TV broadcaster; CSAT, China’s largest satellite TV company; and Beijing TV.
The investment round is being led by Draper Fisher Jurvetson and Highland Capital Partners. It included Steamboat Ventures, the venture-capital vehicle of Walt Disney Co.
Frank Wilson is a retired teacher with over 30 years of combined experience in the education, small business technology, and real estate business. He now blogs as a hobby and spends most days tinkering with old computers. Wilson is passionate about tech, enjoys fishing, and loves drinking beer.