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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[...] reading today’s NewTeeVee announcement that Metacafe got a massive $30 million in extra funding today, I was curious to as to how they [...]
Emerging TV - Where video meets Madison Ave…
— 3:58 PM on August 21, 2007
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[...] no F in Way! NewTeeVee reports that metacafe raised $30 million in [...]
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[...] online edition (behind paywall). The funding comes on the heels of close competitor Metacafe announcing it had secured $30 million less than two weeks [...]
Another Huge Video Funding: Dailymotion Gets…
— 5:07 PM on August 30, 2007
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[...] online edition (behind paywall). The funding comes on the heels of close competitor Metacafe announcing it had secured $30 million less than two weeks [...]
Gigadeez.com » Another Huge Video Funding…
— 3:38 PM on September 2, 2007
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[...] Private Equity (Paris), pour un montant total de 34 millions de dollars. Cette nouvelle intervient 2 semaines après la levée de 30 millions de dollars de Metacafe, un proche concurrent à Dailymotion. Ces deux [...]
ISC-MMTI » Nouvelle levée de fonds…
— 7:25 AM on September 3, 2007
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[...] Gets Its $30M from Intel and Adobe We’d thought the days of big investor reups for video portals were coming to an end, but someone new has stepped up to pay Veoh’s [...]
Veoh Gets Its $30M from Intel and Adobe …
— 12:31 PM on June 3, 2008
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[...] company has raised $45 million in funding, including a $30 million round it took in August of 2007. Cox says Metacafe is currently not seeking additional [...]
Metacafe Chops Producer Payments «…
— 4:04 PM on October 30, 2008
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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?