Softbank acquires 35% stake of China's largest online video streaming service /Nikkei

Softbank announced that it acquires 35% of SynaCast, Shanghai-based online video streaming service provider to become a largest shareholder. The acquisition price is US$ 250 million.

SynaCast started simulcast of TV and Video on demand from 2004 and its streaming service, PPTV has 105 million daily active users.

Nikkei 2/3/2011

memo

• SoftBank has aggressively invested in foreign Internet companies including Alibaba in China and Ustream, live streaming service.
• This is one of the biggest investment for an Internet startup ever.