Just Like That, 56.com is Back
Filed in archive Internet on July 11, 2008
Liz Gannes at New Tee Vee brought it to my attention this afternoon that 56.com has miraculously reappeared in the land of the living.
The Guangzhou-based video sharing site had been offline for five full weeks. As recently as the day before yesterday, I was prepared to write their eulogy; but I guess with $30 million or so in VC funds at state, investors like hikari Private Equity, Susquehanna International Group China, Adobe Systems, the CID Group, Sequoia Capital and Disney's Steamboat Ventures had to find some way to revive the company.
Gannes points out that licenses are still an issue for the site. Rival video site Youku has their government license in hand; 56.com does not and the status of Todou (a third video sharing site in China) is unclear.
Michael Learmonth also did a story for Silicon Alley Insider on the reappearance of the site. The 56.com site has often been compared to YouTube.
© midom
Permalink: Just Like That, 56.com is Back
Tags: Hikari Private Equity Susquehanna International Group China Adobe Systems the CID Group Sequoia Capi
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