Ustream, the live video streaming and sharing site that has fans ranging from Jason Calacanis and Gary Vaynerchuk, right through to Tila Tequila and Chris Brown, has just announced that they've raised an additional $75m in capital in a Series B round.

The company, according to TechCrunch, says that the money will be used to help them expand into Asia, particularly Japan where the firm Softbank - who ponied up the cash - is based. The company is a major telecoms player in Japan, and owns stakes in all the hottest properties over there, so Ustream is going with a known entity.

This round has also seen some of the founders take some money off the table (as in, sell some of their own shares in the deal as well as common company stock), with the money being used to open offices and hire employees in all the major East Asian markets.

[TechCrunch]