Internet TV Startup Joost Raises $45m

Joost, the Internet TV startup founded by Skype and Kazaa creators Janus Friis and Niklas Zennstrom, has raised $45 million from a group of five investors that includes CBS and Viacom. The service has been in private beta for months, and recently opened to a broader audience.

Thus far, Joost's largest problem has been the quality of television content viewers could receive. The new funding news comes after both CBS and Viacom announced plans to make their content available on the service. Joost relies on P2P technology to save bandwidth costs, as each viewer transmits video data to other users as well.