P2P internet TV service Joost has received $45m (£22.6m) in funding to aid its expansion and product development.

Index Ventures led the funding round with Sequoia Capital, while other investors included Hutchison Whampoa Limited and Cheung Kong Holdings, through the Li Ka-Shing Foundation.

Viacom also invested in this round, and is described as a 'Key Launch Partner', providing content from its media properties, including Comedy Central and MTV.

The five investors have taken a minority stake in Joost.

Joost screenshot

Since its beta launch back in December, Joost has come a long way, adding a variety of content partners including Viacom, Warner Brothers, and CBS, as well as getting major advertisers on board.

It has now launched commercially, and all beta testers have unlimited invitations for friends and colleagues.

Graham Charlton

Published 10 May, 2007 by Graham Charlton

Graham Charlton is the former Editor-in-Chief at Econsultancy. Follow him on Twitter or connect via Linkedin or Google+

2565 more posts from this author

You might be interested in

Comments (0)

Comment
No-profile-pic
Save or Cancel
Daily_pulse_signup_wide

Enjoying this article?

Get more just like this, delivered to your inbox.

Keep up to date with the latest analysis, inspiration and learning from the Econsultancy blog with our free Digital Pulse newsletter. You will receive a hand-picked digest of the latest and greatest articles, as well as snippets of new market data, best practice guides and trends research.