Breaking: Metacafe raises big money

By Vivek | August 21st, 2007 at 09:16 am ET         

This is a big news for online video market for sure. Video sharing site Metacafe has raised $30 million in venture funding to develop new features. The investment was led by new investors Highland Capital Partners and DAG Ventures. Existing investors Accel Partners and Benchmark Capital also participated in the round. Metacafe had raised $15 million from Accel Partners and Benchmark Capital in the summer of last year.

Metacafe is currently getting 4.1 million unique visitors per month. That is far shy of 50+ million uniques for Youtube. Metacafe is claiming to to be working on interesting new features that will attract more users. Now don’t tell me they are cooking another personalized p2p video app.