YouKu: The Chinese YouTube?

If you haven’t heard of YouKu, you’re not totally alone. But the leading Chinese video site is proving itself worthy of broader attention. The site raised $40 million this week from new and existing investors including Brookside Capital Partners, Sutter Hill Ventures, Farallon Capital and Chengwei Ventures. The site launched in December 2006, and currently gets more than 100 million daily video views, according Nielsen/NetRatings.