DailyMotion raises $22.1 million for French user-generated video site
French video site DailyMotion raised $22.1 million in a new round of funding.
The site has 60 million unique visitors, many of them in France. It mixes both user-generated videos with professional content such as independent films. Cedric Tornay, chief executive of DailyMotion, told paidContent that the company will use the money to strengthen its balance sheet and fund growth. The company is expected revenue to grow 50 percent this year and the next and it is currently profitable.
The company previously raised $43.5 million since its founding in 2006. Backers included Atlas Venture, Advent Venture Partners, AGF Private Equity and Partech International.
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About the Author, Dean Takahashi
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.