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Ustream Scores $75 Million From Japan's Softbank

TOKYO, Japan (Hypebot) – Popular live video streaming enabler Ustream has received another $75 million in funding led by #3 Japanese cell service Softbank. Ustream will primarily use the money to expand service in Japan, China, Korea and India.

Ustream allows anyone with a camera and a net connection or mobile phone that has web and filming capabilities to broadcast videos quicky and easily to their own channels. The site had 50 million unique users in January, but as the company said in a statement Asia offers an “untapped market opportunity for streaming videos.” China alone has 700 million wireless subscribers.

Update: TechCrunch is reporting that Ustream's funding is really $20 million now and the option for $55 million later. Ustream had previously raised $13 million.