Google Investing in P2P TV Company

Google is investing a major stake in a Chinese P2P startup called Xunlei (or Thunder). Xunlei is reported to have between 75 million to 100 million downloads of its software, and has raised previous funding from Morningside and IDG Ventures. The rumor is that Google, along with Ceyuan Ventures, is participating in Xunlei’s next round of funding, and a source says that the pre-money valuation is around $100 million. The company is said to be working with TV stations to do P2P downloads of TV content (with ads) and has signed up partners like Phoenix TV and Hunan Satellite TV. Continue reading the story over on GigaOM