CBS, Viacom Invest in Joost

May 10, 2007  •  Post A Comment

Online television service Joost today said it has landed $45 million in funding from Index Ventures, Sequoia Capital, Li Ka Shing Foundation, CBS Corporation and Viacom. The money is earmarked for product development, global expansion and service offerings.
Joost was founded in 2006 by Janus Friis and Niklas Zennström, the brains behind Kazaa and Skype. Joost is designed as an ad-supported online alternative to TV.
The service launched officially last week, but experienced some hiccups as users encountered error messages. The company has said it has fixed most of the problems.
(Editor: Romanelli)


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