Internet ad capital injection

By ()
Updated: 2007-06-11 16:36

CTS Media, a Shanghai-based online video advertising network, has closed its second round of funding from Steamboat Ventures, the venture capital arm of the Walt Disney Co, according to ChinaVenture.com.

CTS was founded in 2006 to provide advertisements that are inserted in online video clips. The company is reported to have received a $2 million investment from Sequoia Capital in 2006, which considers it "an agent between Internet video content providers and traditional advertisement agents", the venture firm said on its website. Steamboat also has invested in video sharing sites such as 56.com and Internet television company UUSee.com.

(For more biz stories, please visit Industry Updates)