Digest: Youku funds, Ben Ammar busy
EmptyYouku secures financing
Chinese online video sharing site Youku.com said Monday that it has received $25 million in a private-equity financing round led by Brookside Capital Partners, an affiliate of Bain Capital. The Series C round also included existing investors Sutter Hill Ventures, Farallon Capital and Chengwei Ventures. Youku will use the funds to boost its strong position in China's fast-growing online video space. An expansion of sales and marketing and further research and development investments are among the planned uses of the new funds.
Ben Ammar keeping busy
TURIN, Italy -- Franco-Tunisian heavyweight Tarak Ben Ammar is strengthening his presence in Italy by aiming to establish an all-cinema TV channel while separately looking to up his stake in animated content producer Rainbow. The moves, first reported by newspaper La Repubblica, come just three days after Ben Ammar took a long-awaited 75% stake in Italian film distributor Eagle Pictures for a reported €85 million ($125 million). Sources confirmed that Ben Ammar was mulling an increase in his stake in Rainbow to 30%. Earlier this month, he took a 2% stake.