Joost Closes $45 Million in Financing

May 11, 2007

Joost, an internet television service, has announced that five selected parties have collectively invested approximately $45 million in the company. Each party invested in a minority percentage of the company. This funding is designed to enable Joost to accelerate product development, global expansion, localization, and service offerings. Joost is powered by a secure internet platform designed to enable premium interactive, advertising-supported, video experiences while providing copyright protection for content owners and creators. Joost can be accessed with a broadband internet connection and offers content to viewers for free. Index Ventures, a European venture capital firm, led the round with Sequoia Capital, a venture capital firm.