Ustream Adds a Spare $2 Million
Ustream has picked up another $2 million in funding, according to an SEC filing first reported by Contentinople.
The funding adds onto an $11.1 million Series A round the Mountain View, Calif.-based company took last year, said spokesperson Shari Foldes. “Due to Ustream’s explosive growth, existing investors chose to exercise their right to invest more into the company,” she said. “Ustream is excited with both the sign of confidence as well as the additional resources to accelerate our current trajectory.” Ustream has now raised at least $15 million, on par with the $12.7 million competitor Livestream has raised, but more, we believe than what Justin.tv has raised, though that company has kept its financing private.
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Great for these guys. I’m a big fan, they excel at getting stuff done.
wow! this is great!
Playing devil’s advocate, I don’t know why investors would give these guys more money – they’re being sued for one of probably MANY times. Not to mention the fact that the reputations of the guys running it are horrendous.
^ ive heard the guys behind it are a-holes too