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]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry