DailyMotion Hires New CEO and Looks For Additional Funding

Dailymotion.com is a user-generated content video website that competes directly with YouTube.  Dailymotion is a top 100 global website on Alexa.  The company was started in France and raised $34 million in funding two years ago from Advent Venture Partners LLP and AGF Private Equity of Paris.  This is on top of the $9.5 million in funding that was provided by Atlas Ventures and Partech International.

The company has also hired Ian Brotherston, a former AOL executive as their CEO.  Ian will be taking the place of Mark Zaleski, who is expected to take a non-executive chairman position.

DailyMotion’s revenue is around $16.2 million, but it is not enough to cover bandwidth costs.  YouTube on the other hand consumes close to $2 million per day in bandwidth costs and makes about $513-$663 million per year.

[via VentureBeat]

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