Ustream Scores $75 Million
LOS ALTOS, CALIF:
Ustream, the online service provider that enables live streaming to computers and iPhones, said it has secured $75 million in Series B funding in a round led by Softbank of Japan. Additional commitments are pending from other investors in the United States and Asia, the company said. It indicated plans to expand in Asia, where it considers the infrastructure more advanced for mobile 3G penetration versus the United States.
Ustream’s live-streaming app was launched by iPhone last December, making it the first of its type in the Apple App Store. Ustream says it’s had 1.5 million downloads.
Previous investors include DCM, Western Technology Investors, Band of Angels Fund and Infinity Venture Partners Incubator Fund of Japan.