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French online video site Dailymotion has raised $34m (£16.8m) in funding to expand overseas.

The round was led by AGF Private Equity and Advent Venture Partners, and joined by IC Capital Privé and previous investors Atlas Venture and Partech International, which invested £4.7m last year.

Launched in 2005, Dailymotion claims to be the world's largest 'independent' video site. It is currently ranked in Alexa as the 50th most visited website worldwide, with 37m unique visitors in July.

The majority of its audience (52%) is from France, with 10% from the US and just 4% from the UK. It currently has sites in 14 different countries.

Like YouTube, Dailymotion allows users to watch other people's videos or upload their own to the site. It has a fair amount of copyrighted content up on the site, though it has so far avoided the legal troubles associated with other sites.

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Graham Charlton

Published 4 September, 2007 by Graham Charlton

Graham Charlton is the former Editor-in-Chief at Econsultancy. Follow him on Twitter or connect via Linkedin or Google+

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