 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. Via Venture Beat >> |
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