Fast growing online video site Dailymotion has raised $34 million in second round of funds, led by Advent Venture Partners (London) and AGF Private Equite (Paris).
Launched in 2005, this France-based startup is said to have overtaken YouTube last May as the number one online video site in France. Getting 3.2 million unique users in US, it also ranked second to the online video giant the same month. Dailymotion has just launched in US officially last June.
Now with the available funds, Dailymotion has more room to further enhance their service (YouTube beware!) and to address more content copyright concerns. They are reported to be working out on deals with content providing companies, as well as media companies such as TF1 and Viacom.