08/21/2007
Web 2.0 video sharing site Metacafe raised $30 million
Web 2.0 video sharing site Metacafe has raised $30 million in Series C financing led by Highland Capital Partners and DAG Ventures. Existing investors Accel Partners and Benchmark Capital also participated.
In March 2006 Metacafe has completed a second financing round, raising $15 million from Benchmark and Excel. The Israeli video entertainment firm raised $4 million from Benchmark and private investors in its first financial round.
The money raised will be used to support the company’s continued global growth, including expanding the breadth and depth of content. Earlier this month, Metacafe announced a partnership with Skype, that allow users to download videos from Metacafe site and share them with friends and family across the world.
“Metacafe is defining the next generation of online video, moving away from simple video sharing and hosting to delivering an exceptional entertainment experience for short-form content,” said Richard de Silva, Partner, Highland Capital Partners.
With the close of this round, co-founder Arik Czerniak will step away from day-to-day operations to pursue other entrepreneurial endeavors but will remain on the board and continue to advise the company on strategic matters.
Metacafe is currently having more than 25 million unique viewers each month. The Israeli startup is headquartered in Palo Alto, Calif., and has offices in Tel Aviv and New York City.
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17:45 Posted in Video Sharing | Permalink | Comments (0) | Email this | Tags: web 2.0, video sharing, metacafe, highland capital partners, dag ventures, accel partners, benchmark
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