Joost Raises $45 Million
Joost announced that it raised around $45 million from Index Ventures, Sequoia, Li Ka Shing Foundation, CBS and Viacom. Talk about new and old money joining hands around the campfire. The company officially says the loot is to accelerate "product development, global expansion, localization, and service offerings." No kidding. That's a lot of money it could throw at engineers. Or hey, throw at anything.
As already announced CBS and Viacom are content partners with Joost. And of course, Viacom has that nice suit against YouTube. Another nutty little tidbit to chew over: Roelof Botha, the VC partner from Sequoia who herded YouTube along is the general partner quoted in the press release. Okey, so many YouTube and Joost are doing attacking different parts of the market (short clips v. long-form high resolution video), but you can't doubt that YouTube has to have it's eye on longer form as well.
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