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DailyMotion Raises $34 Million; Another Copyright Infringing Success Story
French social video site DailyMotion has raised a $34 million round from Advent Venture Partners LLP and AGF Private Equity, a division of Allianz AG. The new round comes on top of $9.5 million in previous financing from Atlas Ventures and Partech International. The round puts DailyMotion's total financing beyond that of their competitors, even MetaCafe's $45 million total financing. Dailymotion's executive chairman, Mark Zaleski, said the new funds will 'allow us to reach operating profitability'.


Source: http://www.techcrunch.com/2007/08/30/dailymotion-raises-34-million-another-copyright-infringing-success-story/

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