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Bejing, China - (Cheap Web Hosting Directory) - January 2, 2007 - Online video sharing and distribution platform, Yoqoo.com, has finalized a $12 million round of private equity funding from Sutter Hill Ventures, Farallon Capital and Chengwei Ventures.

Founded by former Sohu President Victor Koo and that launched its beta version in June 2006, Yoqoo.com has grown into one of the top video sharing and distribution platforms in China with millions of short-form videos watched and thousands uploaded every day by video creators, collectors, amateurs and media organizations. This investment will be used to strengthen the research and development of Yoqoo.com, further upgrade the video service standard and to accelerate the growth of the Company.

Victor Koo, Founder and CEO of Yoqoo.com explained, ”User generated content and video sharing in China is an area with tremendous potential. We are honored to have the endorsement and support of three of the most prestigious investors in the world. Their investment and managerial experience and their understanding of the Chinese market is extremely valuable to the development of the Company.”

Len Baker, Managing Partner of Sutter Hill Ventures added, ”We are very thrilled to partner with Yoqoo at a time when the Chinese Internet video market is taking off. We believe Yoqoo is well positioned to become the leader in user-generated video and video sharing in China. We are proud to be Yoqoo’s partner,” said Ding Chun, Managing Member of Farallon Capital Management L.L.C. ‘I completely trust Victor and his team at Yoqoo will take advantage of the rapidly growing Chinese market and will be innovative and successful in executing its business plan.”

Sutter Hill Ventures has financed technology-based start-ups and assisted entrepreneurs in building market-leading companies since 1962. The oldest venture capital firm in Silicon Valley, they have invested over 350 technology and medical start-ups and created over $100 billion in market value. Their current portfolio has 50 companies.

Farallon Capital Management, L.L.C. is an investment adviser registered with the U.S. Securities and Exchange Commission. The firm manages more than $16 billion equity capital for institutions and high net worth individuals, and its institutional investors are primarily college endowments and foundations.

Chengwei Ventures, based in Shanghai, is one of the first independent venture capital funds and the only evergreen private equity fund to operate in China. Chengwei was founded in 1999 for the purpose of investing in high-growth potential companies in a variety of industries including communication software, IC design, niche component manufacturing, healthcare and media. Chengwei’s investments in China include AAC Acoustic Limited, Huaya Technology, OneWave Inc., HDT, Inc., BabyCare Ltd. and AsiaInfo.

Yoqoo.com is an Internet video sharing and distribution website in China for people to view, share and upload short form videos. All of the short videos clips on the site are uploaded by users and they are typically shorter than 10 minutes each, often under 3-5 minutes. Yoqoo.com was founded by former Sohu president Victor Koo and launched (beta version) in June 2006. Within less than half of a year, Yoqoo.com has grown into one of the top video sharing and distribution platforms in China with millions of short-form video watched and thousands uploaded every day by video creators, collectors, amateurs and media organizations.

To learn more, please visit: www.yoqoo.com.

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