Ku6 Media (NASDAQ:KUTV), the first U.S. listed Chinese online video portal, is to receive a $ 100M investment from its parent company Shanda Interactive Entertainment Ltd. (NASDAQ:SNDA) through the sale of ordinary shares and senior convertible bonds. It would use the proceeds for business expansion and to replenish working capital. The founder, LI Shanyou stepped down as Ku6 chief executive officer on Mar.15th.