Written by Om Malik
Posted Tuesday, August 21, 2007 at 7:19 AM PT

Metacafe Raises $30M in Fresh VC Cash

The funding for online video sites continues to flow unabated. Metacafe, a Palo Alto, Calif.-based video site that competes with the likes of YouTube, has raised $30 million in new funding, according to VentureWire (via VentureBeat). Highland Capital Partners and DAG Ventures led the round.

Previous investors Accel Partners and Benchmark Capital also invested. Metacafe has raised a total of $45 million in funding so far, including this round.

Update: Founding CEO Arik Czerniak, who was traded out in favor of Erick Hachenburg earlier this year, will no longer be involved in day-to-day operations, according to a Metacafe press release. Apparently he is moving on to other “entrepreneurial endeavors” while retaining a board seat.

The release said the funding would be applied to “continued global growth,” including partnerships with established media companies, something Metacafe has only dabbled in to date. Previously the site had been more focused on its “Producer Rewards” user revenue-sharing program, which will continue.

Disclosure: Metacafe is the co-sponsor of the NewTeeVee Pier Screenings.

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Topic: Money & Power, Startups

Comments (1)

Om,

How is Metacafe’s distribution (viewership) now? Where does it stand vs. others who’ve raised similar amounts?

It appears, IMHO, to be late to the “big media” party – what do they bring that the others don’t already bring?

Chillin — 3:08 PM on August 21, 2007 Reply

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