56.com was a chinese youtube website that was quite popular. But now, we’ve seen that it’s been shutdown quite possible shut down by China’s government.
It’s a pity that 56.com is losing all of its traffic, and the brand awareness it had built up since launching. Apparently Tudou, Youku as well as 56.com all have not recieved video licenses by the Chinese Government so there is fear that these sites will be shutdown as well.
A big loss with the 56.com shut down
The $30 million of venture capital funding that the site raised is now worthless. That’s a huge loss and there is no certainty whether they will ever be able to get the site running again…
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