US

YouTube Jr. Dailymotion Lands $34 Million

France’s YouTube-like Dailymotion has raised $34 million in funding from London-based Advent Venture Partners and Paris-based AGF Private Equity, WSJ reports ($). Dailymotion launched in 2005 and gets about 37 million visitors a month, the Journal says. Last October, Dailymotion raised $9.5 million from Atlas Venture and Paris-based Partech International.

Like YouTube, Dailymotion made a name for itself by taking a copyright-be-damned approach to video sharing — except that the company didn’t put time limits on videos, so users could swap entire sitcoms or movies. And like YouTube, now that Dailymotion has made a name for itself, it is trying to reach agreements with copyright holders. Last spring it hired a handful of U.S. execs to open a New York office.

See Also: Hulu: NBCU-News YouTube Killer Has A Name, Problems

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.