Online video company Ustream has secured $6 million backing from investors DCM and Softbank. This investment is in addition to Korea Telecom’s $10M million investment to establish a second Asian joint venture in Seoul.
Over the past four years, Ustream, Inc. has grown to become the world leader in online video with more than 60 million unique visitors a month and continues to expand its platform to allow anyone to create, discover, and share live, relevant experiences – anytime, anywhere.
Ustream is excited to announce an additional $6M investment by our investors DCM and Softbank. This investment is in addition to Korea Telecom’s $10M investment to establish our second Asian joint venture in Seoul. According to John Ham, founder and CEO of Ustream, “This vote of support for our strategy will give Ustream the additional resources needed to expand the premium content we can make available to users, continue to introduce great innovations in online video products and build out our team.”
With these major milestones completed, Ham will hand over day-to-day leadership to a new CEO while continuing to provide his experience and strategic insights as chairman of the board. Ham intends to return to his entrepreneurial roots and will make a major announcement about his plans in the near future.
Ustream Co-Founder and President Brad Hunstable will serve as interim CEO and provide continuity until an external search is completed. “John, my co-founder, fellow West Point graduate and friend,” says Hunstable, “has been an incredible founder and CEO for Ustream. He has built this company from nothing into the global leader in online video.”
Softbank and DCM’s additional investments in Ustream reflect their continued confidence in the future of online video and Ustream’s leadership. Gen Isayama, DCM partner and Ustream director, notes that, “John has been a terrific leader in guiding Ustream as its co-founder and CEO. I am thankful for all his work to date in making Ustream a global leader and am very happy that he will be staying involved with the company. I look forward to John’s new ventures and certainly wish him the best of luck.”
Ustream, Inc. is the leader in live and interactive video streaming. The interactive platform connects broadcasters and viewers of unlimited size through innovative technology, including: Facebook and Twitter social engagement tools, real-time chat and notifications, custom-designed channels and embeddable features across multiple websites and platforms. Users are also able to broadcast, view and engage with others in real-time, directly from mobile phones, tablets, computers and smart TVs. The company attracts millions of high-profile brands, celebrities, musicians, athletes, politicians, animal enthusiasts and gamers. Ustream recently earned the Guinness World Record for the “Most Content-Ingested by an Online Video Service.”