Ustream, Inc. and SOFTBANK CORP. Announce Establishment of Ustream Asia
May 18, 2010
Joint Venture Expands Ustream into Japan and Asia Pacific
TV Bank Corporation
TOKYO AND SAN FRANCISCO (MAY 18, 2010) – Ustream, Inc. (Head office: California, USA; President: John Ham, hereafter “Ustream”) and SOFTBANK CORP. (Head office: Minato-ku, Tokyo; Chairman & CEO; Masayoshi Son, hereafter “SOFTBANK”) today announced to establish “USTREAM Asia”, a joint venture partnership that expands the Ustream business into Asia Pacific. Ustream, the leader in live video, will enable consumers in Asia Pacific to view and interact during live streams on the web and through mobile devices. SOFTBANK will invest in this new joint venture -through its wholly-owned subsidiary, TV Bank Corporation (Head office: Minato-ku, Tokyo; President: Tomotaka Nakagawa) and a preparatory company is expected be established on May 19, 2010, and then it will be transformed into a joint venture company.
In addition, SOFTBANK plans to complete an additional investment of USD 10million (Approximately JPY 0.9 billion) in Ustream in June 2010. After this investment, SOFTBANK's total investment ratio will be 19.04%, and assuming all available options granted to SOFTBANK to acquire additional shares are exercised by July 2011, SOFTBANK's total investment is expected to be approximately USD 75 million (investment ratio expected over 30%) and will result in SOFTBANK becoming Ustream's top shareholder.
SOFTBANK completed its initial investment of USD 20 million (approximately JPY 1.8 billion, investment ratio of 13.55%) in Ustream on January 29, 2010, after then, several discussions were taken place for establishment of a joint venture company. The joint venture will begin as a Japanese Ustream presence with the goal of expansion into the broader Asia Pacific region. Ustream has already launched the Japanese version of its site in April 2010, and the establishment of the joint venture is aimed to further enhance the usage of Ustream in Asian countries including Japan.
We also today announced a release of two Japanese Ustream applications for iPhone: “USTREAM Viewer” and “USTREAM Broadcaster.” “USTREAM Viewer” is an application that enables people to easily watch live video on the iPhone and Ustream Broadcaster enables to stream live content from the iPhone.
“Consistent with our vision of bringing live video to everyone, the joint venture with SOFTBANK operationally positions Ustream to meet this goal and it signifies the beginning of those efforts,” said John Ham, Ustream founder and CEO. “SOFTBANK has a proven history of bringing leading Internet brands to Asia. As a result, we are excited to be working with SOFTBANK to bring Ustream to Asia.”
“I am delighted at this opportunity to partner with Ustream for a joint venture,” said Masayoshi Son, chairman and CEO of SOFTBANK. “The number of Internet users in Asian countries is growing dramatically, and USTREAM Asia will be a live video distribution platform for this huge market. In Japan, the number of Ustream users is growing rapidly, so I am excited for this business opportunity in Asian countries including Japan.”
USTREAM Asia aims to provide high quality service for users to enjoy live video distribution through Ustream anytime from anywhere.
Ustream is the leader in live video with more than 100 million monthly unique viewers. The platform empowers any individual, public figure or brand to stream to a global audience of unlimited size. Ustream offers free broadcasting and viewing platforms for the Web and mobile devices. The interactive functionality within Ustream enables real-time engagement with Facebook, Twitter, MySpace and AIM. Hundreds of high-profile broadcasters have partnered with Ustream to reach millions of people. Ustream is a privately-held company based in Mountain View, Calif. Follow on Twitter (@Ustream) or fan at Facebook.com/Ustream.
Outline of Ustream Asia
|Business description||Broadcast platform offering live video distribution (video streaming) service via the Internet|
|Representative||Tomotaka Nakagawa, President & CEO|
|Capital||JPY 200million (capital reserve: JPY 200 million)|
|Capital structure||TV Bank Corporation: 60%
Ustream, Inc.: 32%
DCM (fund): 8%
- Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SoftBank Group Corp. or the applicable group company, as the case may be. Such information is subject to change and may become out-of-date. Such information may also contain forward-looking statements which are by their nature subject to various risks and uncertainties that may cause actual results and future developments to differ materially from those expressed or implied by such statements. Please read legal notices in its entirety prior to viewing any information available on this website.