New Round of Funding for PPStream

For those unfamiliar with PPStream, it is a Chinese p2p streaming video network software. It can be called P2P Streaming Internet TV and technically it works pretty much the same as BitTorrent(BT). So far, most of PPStream TV channels come from China, Hong-Kong, Taiwan and Singapore but other channels may adopt the technology in the future.

Currently PPStream is in search of new funds, Marbridge Daily reports. In the previous rounds of funding, the company managed to collect about $ 30 million with the help of LG's venture subsidiary LB Investment, Ceyuan Ventures and Qiming Venture Partners.

“In its new round of funding, PPStream seeks to target three categories of investor: traditional media, telecom companies, and internet companies. As the company's operations are currently in a good state, PPStream will not seek large investments. Thus far, PPStream has yet to complete specific plans for this round of funding, and has not decided where it will seek to list,” says Marbridge Daily.