|
NEW YORK (AP) - Joost, an Internet-based TV service being launched by the creators of Skype and Kazaa, said Thursday it has raised $45 million from five investors including CBS Corp. and Viacom Inc. and an influential Hong Kong telecommunications executive.
Index Ventures, a European venture capital firm, and Sequoia Capital were the lead contributors to the investment. The fifth participant is Li Ka-shing, chairman of Hutchison Whampoa Ltd. and Cheung Kong Holdings, who invested in Joost through his charitable foundation, the Li Ka Shing Foundation.
Joost, which recently expanded a trial of its TV service to more users, transmits video with peer-to-peer technology, the signature approach that co-founders Janus Friis and Niklas Zennstrom used to launch the hugely popular Skype calling and Kazaa music-sharing services.
|