Ile.com Newly Raises $20 Million in Financing - IT Channel - Hexun.com

On the morning of December 7, the video sharing website 56.com announced that it had secured a new round of financing amounting to 20 million US dollars. The capital injection will mainly be used for infrastructure, marketing, and brand promotion.

This is the second round of financing for the website, led by HPE (HIKARI Private Equity) and SIG (Susquehanna International Group China). Adobe Systems Incorporated, CID Group, as well as Sequoia Capital and Steamboat Venture (a subsidiary of Disney) which participated in the first round of investment, were also involved in this round of investment.

CEO and founder of 56.com, Zhou Juan, stated that obtaining new investments would help the company systematically expand its scale and technical assets.

Since the beginning of the year, Uusee Video and Youku.com have successively received investments of 20 million US dollars and 25 million US dollars respectively. Industry insiders predict that strong capital injections will stimulate the video sharing website market to enter a new phase of rapid growth.