Chinese media, advertising, and urban life.

The China video website saga continues:

Last week Danwei reported that Ku6.com, one of 247 government approved video websites, had received US$30 million in new funding.

China's biggest three video websites, 56.com, Tudou.com and Youku.com have not got formal government approval (see Danwei story).

56.com has been shut down since early June and is apparently moribund because it just couldn't get on with government regulators (see Kaiser Kuo: A Funeral Dirge for 56.com?.

Despite the lack of formal government approval, Tudou and Youku continue to operate. Youku yesterday announced that they had received USD 30 million in new funding.

Below is the full text of their press release.

Youku.com Inc. Raises US$30 million equity financing and US$10 million equipment loan