PPTV Begins Final Round of Pre-IPO Funding
Sina Tech, 9/06/10
Chinese P2P streaming video platform PPLive (PPTV) has begun its final round of funding before its IPO, CEO Vincent Tao has confirmed. Tao said that PPLive is currently in discussions with a number of investors and expects to raise tens of millions of USD.
Earlier rumors indicated that Hong Kong-based television entertainment company ChinaVision Media Group (1060.HK) was considering acquiring PPTV, but there has been no confirmation of these rumors.
PPTV plans to IPO on the Nasdaq stock exchange in 2011 or 2012. Tao made no comment on the matter, though he said that there is no rush to list, noting that timing is most critical.
Tao said PPTV has already achieved profitability that, while modest, has a steady growth curve. Currently PPTV's primary revenue stream is advertising, but the company is also exploring VOD, co-operated online games and e-commerce value-added services.
Editor's Note: For more background on this topic, please see "PPLive: Profit by 2010, IPO in 2-3 Years" MD 12/30/09 issue.
Keywords: online advertising video advertising e-commerce Internet IPO Nasdaq funding profit revenue PPLive P2P Vincent Tao ChinaVision 1060.HK online video online gaming investment VAS
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