CHINA'S YouTube-style Website 56.com announced it has recently got a combined US$10 million of venture capital investment from Steamboat Ventures and SIG as the video-sharing site seeks to upgrade facilities and woo more viewers.
The company didn't break down the investment by the two investors. The 56.com which targets youngsters aged between 18 and 25 now has 20 million registered members. Founded in Guangzhou, southern Guangdong Province, 56.com is now expanding its business nationwide.