Joost Raises 45 Million In Investment Funding

Joost, a website that brings TV shows to the internet just announced that they’ve raised 45 million dollars of funding through a number of major investors.

Viacom recently selected Joost to license content and is one of the investors.

Other investors include CBS Corp, Index Ventures, a major venture capital company in Europe, Sequoia Capital, an influential telecommunications executive in Hong Kong, and Li Ka-shing, chairman of Hutchison Whampoa Ltd. and Cheung Kong Holdings, who invested through his charitable foundation, the Li Ka Shing Foundation.

Joost was founded by the creators of Kazaa and Skype.

Unlike Youtube, Joost won’t have issues with copyright violations because they are signing agreements with the major networks to distribute their content.

Joost.com is currently in beta and is available by invite only.

AP