BesTV NewMedia just announced that it had acquired 35% of Funshion for US$ 30 million, a move to help the company branch out into multiple platforms. Founded by SMG (Shanghai Media Group) in 2005, Shanghai-based BesTV is one of the first Chinese IPTVs.

Funshion was also set up in 2005. The service developed its own patent technology like FSP to speed up P2P-powered online video streaming. It currently provides users with Windows client, iOS apps (for both iPhone and iPad) and Android app. Previously a Windows client is required to play around with its vast video repository, even if you just want to watch the video from browser. The restriction was later on removed because it though to some extend prompts some people to install Funshion’s Windows client but also send more prospective users away, especially when all the other video sites like iQiyi, Youku and Sohu Video open up to anyone.

As of now, Funshion claims a DAU of 20 million on a total of 270 million registered users. It’s client software ranked top three among its peers.

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Gang Lu

Dr. Gang Lu - Founder of TechNode. He's a Blogger, a Geek, a PhD and a Speaker, with passion in Tech, Internet and R'N'R.