Tag Archives: Advent Venture Partners LLP
Vitrue Raises $17 Million In Series C
Vitrue is a social media management company that has raised $17 million in Series C funding. Scale Venture Partners and Advent Venture Partners led this round of funding. Existing investors General Catalyst Ventures, Comcast Interactive, and Dance Ventures also participated. Some of Vitrue’s customers include Ford, Intel, MTV, Best Buy, and McDonald’s. Vitrue will be using the funding for expansion. [Mashable]
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]