Chinese Video Site 56.com Raises $20 Mil

By Staff Published on .

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Money is pouring into video sites abroad as well as in the U.S., with PaidContent reporting that 56.com, a Chinese video site, raised $20 million in a second round of financing. Competing site Youku said it raised $25 million a few weeks ago. BusinessWeek last week reported on YouTube’s long road ahead in China.


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