Live streaming site Ustream has raised another $10 million from Korea Telecom to launch a streaming website in South Korea called Ustream Korea.
South Korea is a massive venue for electronic sports leagues, where gamers compete for large cash prizes. Those leagues use live streaming sites like Ustream and Justin.tv prolifically to broadcast games and tournaments. Many gamers have built entire careers off playing games like Starcraft 2: Wings of Liberty and World of Warcraft, and they get sponsorships like a typical athlete.
Justin.tv, another live streaming site, launched a spin-off site specifically branded for electronic sports called Twitch.tv earlier this year. Justin.tv has already secured exclusive deals with many major electronic sports franchises and tournaments, like the Global Starcraft League tournament, based in South Korea.
Ustream was founded in 2007 and is based in San Francisco. It has raised $97.8 million to date.
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