Online television service Joost revealed that it has signed a multi-million dollar deal with five of the prominent venture capital and media groups, in exchange for a small percentage of the company. Joost added that the deal is around $45 million, which will be used to accelerate product development, global expansion, localization, and service offerings.

The partners in the venture include Index Ventures, Sequoia Capital, CBS Corp., Viacom and Li Ka Shing Foundation. Announcing the deal, Joost co-founder Janus Friis said that his company made a careful selection of the partners who will benefit Joost in the long run.

"This funding represents a tremendous vote of confidence in Joost's platform. We've carefully selected these investors from a variety of interested parties, as they are best-in-class in their respective arenas and bring unique assets to Joost that will enable us to significantly accelerate growth and development of the Company", Friis said.

Index Ventures is one of Europe's leading venture capital firms, which along with Sequoia Capital, invests in impactful technologies around the world. Sequoia Capital is the first investor and business partner in a number of companies that make up 10 percent of NASDAQ's value.

Li Ka Shing Foundation is a charitable foundation started by chairman of Hutchison Whampoa Limited and Cheung Kong Holdings, Li Ka Shing. Friis said that Joost would be able to assert its presence in China and other parts of Asia by working closely with companies associated with Li.

I have plenty of invites if anyone wants one.