Video sharing platform AcFun, which had raised at least $110m from backers including Youku Tudou and SoftBank, has shut down its operations.
AcFun, a China-based video streaming platform backed by telecommunications and internet group SoftBank and video sharing platform Youku Tudou, has shut down, China Money Network reported on Friday.
Founded in 2007, AcFun operated a video sharing platform aimed at a young demographic. Its content centred on animated films, music, sports and games, and it offered the ability for real-time comments from other users.
However, the company has undergone several changes in management and was reportedly unsuccessful in securing an official…
