DailyMotion Raises $22.1 Million, Adding Up To Total Of $65.6 Million
Earlier today I wrote about one video company buying another in order to compete further with YouTube. To be honest, I had never heard of Motionbox or Viddyou, but one YouTube competitor I have heard of is DailyMotion. DailyMotion has just raised $22.1 million giving them a total of $65.6 million.
DailyMotion is based in France and specializes on both independent films along with user-generated movies. DailyMotion CEO Cedric Tornay said that the funding will be used to strengthen the balane sheet and fund the growth of the company. DailyMotion’s revenue is expected to grow about 50% this year and they are profitable.
That is Impressive for a website that spends tons of money on bandwidth and storage. YouTube reportedly costs Google $2 million per day to keep alive.
The investors in this round of funding includes Atlas Venture, AGF Private Equity, Advent Venture Partners, and Partech International.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry