Chinese Video Software Site Baofeng Gets $15 Million Funding
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The Chinese online video fundings are still continuing, and now seems to have graduated into more tech-backed type of deals than consumer: Video software company Baofeng.com has received $15 million in VC funding. The round was led by Matrix Partners China and IDG, and the money will be used in developing its flagship product, the Baofeng Storm Codec. It is like the Brightcove of China, providing online video services to media companies such as Sohu.com and PPS. Some more about the company here.
Posted In: Money, M&A & Venture Capital, Venture Capital, Technologies / Formats, Broadband, Countries, Asia, China, baofeng, idg china, matrix partners
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