Last month we reported that PPStream announced that it was trying to get new founding. Meanwhile, its rival PPLive managed to raise a new round of funding.
Part of the new $15 million funding was given by Shanghai’s municipal government. According to Marbridge Daily “PPLive has received investment from SAIF Partners, and that previous investors BlueRun Ventures and Draper Fisher Jurvetson (DFJ) also added to their investments.”
PPLive CEO Tao Chuang did not reveal the investors or investment amounts that the round includes. It seems that the Chinese P2P streaming video provider has also received some strategic investment from Baidu previous to this new round, but that amount remains unknown as well. The start-up raised around $20 million in other previous rounds and last year not only failed to obtain additional financing but also was forced by the economic crisis to lay off around 10% of its employees.