Oct 8 (Reuters) - PPLive.com, China's second-largest online video sites by market share, aims to raise $20 million from venture capital investors by next month, according to the company's prospectus.
PPLive.com is seeking $20 million in the third round from venture capital fund investors after Softbank China Venture Capital, BlueRun Ventures, DFJ and Dragon Ventures invested in the Internet TV broadcaster in the past two years, according to the document, a copy of which was seen by Reuters on Wednesday.
"This round of money would be spent on content acquisition, new products and services development, bandwidth investment, as well as potential M&A," said a potential investor who had been briefed on the private fund-raising plan.
PPLive.com is ranked No. 2 in terms of online video market share in the world's fastest-growing major economy, according to industry researcher Analysys.
In the third quarter of this year, PPLive had 17.6 percent of market share, compared with 18.1 percent for market leader UUSee and 10.3 percent for smaller rival PPStream, Analysys said in its research report. (Reporting by George Chen; Editing by Ken Wills)
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