Joost secures $45m in financing

Joost, the Netherlands-based internet television service, has secured $45m in investments from five companies.

Index Ventures, Sequoia Capital, the Li Ka Shing Foundation, CBS Corporation and Viacom have each invested in a minority percentage of the company. CBS Corporation and Viacom are also content partners, providing channels and programming on Joost.

This funding will enable Joost to accelerate product development, global expansion, localization, and service offerings.

Founded in January 2006, Joost's TV service can be accessed with a broadband internet connection and offers content to viewers for free.

(Source: Digital Media Europe)