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September 10, 2012 06:09 pm GMT
Ivi.ru the "Hulu of Russia" that offers streamed premium TV and films from international and local big-name content holders, has raised another $40 million round of funding. The investment was led by Baring Vostok, a private equity firm, along with existing investors ru-Net, Tiger Global, Prof-Media and Frontier Ventures. Oleg Tumanov, ivi.ru founder and CEO,tells TechCrunch that the funds will be used to build out both the company's technology as well as its content catalog, amid rumors that ivi's inspiration -- Hulu itself -- as well as Netflix are eyeing up a move into the Russian market.The company does not disclose how much money the site has raised since launching in February 2010, but Tumanov notes that prior to this ivi.ru had raised "several dozen millions" of dollars in investment.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/HyqOGyWPQLw/
The Hulu Of Russia, Ivi.ru, Raises $40M To Fight Off The Threat Of Hulu, Netflix, And YouTube
Ivi.ru the "Hulu of Russia" that offers streamed premium TV and films from international and local big-name content holders, has raised another $40 million round of funding. The investment was led by Baring Vostok, a private equity firm, along with existing investors ru-Net, Tiger Global, Prof-Media and Frontier Ventures. Oleg Tumanov, ivi.ru founder and CEO,tells TechCrunch that the funds will be used to build out both the company's technology as well as its content catalog, amid rumors that ivi's inspiration -- Hulu itself -- as well as Netflix are eyeing up a move into the Russian market.The company does not disclose how much money the site has raised since launching in February 2010, but Tumanov notes that prior to this ivi.ru had raised "several dozen millions" of dollars in investment.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/HyqOGyWPQLw/
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