Joost gets $45 million in financing

On-demand video site says plans for the money include speeding up product development and expanding globally.

Online video network Joost has received $45 million in funding from a group led by Index Ventures and Sequoia Capital. Also investing were: Li Ka-shing, chairman of Hutchison Whampoa and Cheung Kong Holdings; Viacom; and CBS. The two media companies also are providing content to the site.

The money will be used to "accelerate product development, global expansion, localization and service offerings," according to a statement from Joost. The company was launched by Janus Friis and Niklas Zennstrom, the founders of Skype and Kazaa.

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Details about Apple's 'spaceship' campus from the drone pilot who flies over it

MyithZ has one of the most popular aerial photography channels on YouTube. With the exception of revealing his identity, he is an open book as he shares with CNET's Brian Tong the drone hardware he uses to capture flyover shots of the construction of Apple's new campus, which looks remarkably like an alien craft.

by Brian Tong