After supposedly reaching profitability, French video site Dailymotion has raised another €15 million of funding.
Having already raised $43.5 million, the company’s CEO Cedric Tourney announced in an interview with Capital.fr that the company is finally profitable and is going to be using the funding to finance its next stage of growth. In regard to rumours of acquisition, Tourney insists the company will not sell and board members wish to remain independent.
For some time the company has struggled, but Tournay insists a new phase of success is here.
“At the moment, we are poor at monetising our audience,” Tournay says. “Dailymotion started its business strategy there only two years ago. The consequence: less than 10 percent of our videos include advertising. The potential is considerable. ”
Dailymotion tries to differentiate themselves from the likes of YouTube by offering a mix of professional content, contextual advertising, and paying top content producers (companies or individuals) through their MotionMaker program. Whilst dominant in the France, the company opened a US-based operations in 2007 aiming to make a name for themselves in the US market.