Web 2.0 awakens: online video ventures attract another round of venture capital funding

With the rapid development of Web2.0 technology and the swift expansion of bandwidth, online video, especially network television mainly in the forms of live broadcast and video on demand (VOD), seemed to grow overnight in 2007.

If the Internet industry is compared to a golden chicken that lays golden eggs, then network television is the next golden egg after portal sites, online search, online games, and e-commerce. This was stated by UUSee.com Vice President Xu Haoyu in an exclusive interview with this newspaper.

Xu Haoyu spoke with great confidence. Half a month ago, a 14-member delegation from Hamburg, Germany, including internet media companies and venture capital executives, visited UUSee. The CEO and investment director of BurdaDigital Venture Fund who participated in the visit both expressed their intention to invest in emerging media like UUSee.

On November 19th, another video sharing website, Youku (YOUKU.com), also announced the completion of its third round of financing amounting to $25 million.

Through the investors' dense steps towards video networks, people can't help but ask: Is the spring of Web 2.0 really coming?