PPLive Wins Investment for Women Channel

PPLive.com, a video site with a focus on movies and TV dramas, has received investment from China Sun TV for a special channel for women, marking the latest – though undisclosed on size – cash injection after it secured ¥100 million ($1 = ¥6.83) in December, including contribution from the local Shanghai government. PPLive anticipates to post a profit by the end of 2010 and to float on the NASDAQ in 2011 or 2012, according to CEO Tao Chuang. China Sun TV, one of the most prominent private media companies in China , employs over 1,000 people, has a presence in 20 countries and owns stakes in nearly 30 media companies. China's video-sharing industry has gathered $500 million in venture capital, said Tao.