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December 6, 2006

Azureus gains backing for YouTube rival

Azureus Inc has raised $12m Series B funding for its music and video sharing web site, known as Zudeo. The funding round was led by Redpoint Ventures, and other investors include Greycroft Partners, CNET chairman Jarl Mohn, as well as BV Capital, the original investor in the company's Series A round in the summer.

By CBR Staff Writer

Unlike YouTube, Zudeo offers high-definition video and has no limitations for movie duration or file size. The funding for Redwood City, California-based Azureus, comes just days after Accel Partners and DCM invested $20m Series B in file sharing website BitTorrent Inc.

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