56.com raises $20,000,000

Chinese video sharing site 56.com officially announced on December 7 that it has completed second round capital raising lead by HIKARI Private Equity, Inc. (HPE) and existing investor Susquehanna International Group China (SIG) with US$20 million, reports 163.com. Adobe Systems Incorporated, CID Group, Sequoia Capital and Steamboat Ventures also participated in second round fundraising.