Ustream announced this morning that it is poised to establish Ustream Korea in December of 2011, with a Korean site to follow in the first quarter of 2012. It will partner with KT Corporation (NYSE:KT) as a part of its Ustream Asia joint venture with Japan’s Softbank (TYO:9984).
The agreement brings $10 million in fresh funding for Ustream, bringing its total funding amount to $98.7 million. Founder John Ham said in a statement:
The expansion of Ustream’s presence in Korea through our partnership with SOFTBANK and KT, highlights the growing impact of live and interactive video. . . We are extremely excited to continue building Ustream’s success and reputation as the leader in live and interactive video across the world.
In Korea, Ustream is frequently used to broadcast big-money gaming events or tournaments, where players compete in games such as World of Warcraft or Starcraft.
Since receiving investment from Softbank early last year, Ustream seems to be doing well in Japan. Personally, I see a lot of companies taking advantage of the service, ranging from tech companies live-streaming their events to individual end users taking advantage of its broadcasting power.
[Ustream via Techcrunch]
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