Shanghai - Chinese video-hosting site PPLive.com is looking to raise $20 million over the next month for a third round of financing, Reuters reported, citing a copy of a company prospectus it obtained.

PPLive.com is China's second-largest video site, behind UUSee, and counted more than 100 million users in July.

Past investors in the company have included Softbank China Venture Capital, BlueRun Ventures, DFJ and Dragon Ventures.

"This round of money would be spent on content acquisition, new products and services development, bandwidth investment, as well as potential M&A," a potential investor who had been briefed on the private fund-raising plan told Reuters.

Related Links:
http://snipurl.com/46osp (Reuters)

http://www.pplive.com