New York – Xuechu He, who was named #38 on Forbes richest Chinese list in 2010 with a net worth of RMB 12 billion, purchased a stake in YOU On Demand from C Media Limited ("C Media"), a mobile video service provider in China, in a private stock transaction. He purchased 2,285,715 restricted Series E convertible preferred shares. "Mr. He has great appreciation for C Media's long-term strategic view of YOU On Demand and its ability to capitalise on China's fast-growing mobile, OTT and … [Read more...] about Xuechu He invests in YOU On Demand
C Media
C Media invests US$2 million in YOU On Demand
New York - YOU On Demand Holdings, Inc., the first national Video On Demand (VOD) platform in China, has announced that C Media Limited, a leading China-based mobile video service provider, has raised its aggregate strategic investment in YOU On Demand. C Media has increased its present stake to US$6 million with a US$2 million Convertible Bridge Note financing. The Bridge Note will convert to Series E Convertible Preferred Stock upon consummation of the proposed Phase 2 investment … [Read more...] about C Media invests US$2 million in YOU On Demand
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