Dailymotion, the French-based online video platform, will get 30 million euros — or nearly $40 million in funding from its parent company, telecom operator Orange SA.
Stephane Richard, CEO of Orange, told the Hollywood Reporter: “We decided, after discussion with the Dailymotion team, to implement a plan to develop the company within Orange.”
The latest round of funding means that Orange SA will keep control of Dailymotion and will invest in the video platform to boost its sales worldwide and open offices in Spain, Japan, Canada and Brazil. Dailymotion is also focusing on expanding its reach in the United States, the United Kingdom and Germany.
The announcement comes after talks with Yahoo to buy 75 percent of Dailymotion broke down in May when the French government intervened and insisted that Yahoo only take a 50 percent stake.
Although Dailymotion has a smaller audience in comparison to YouTube, Dailymotion has been trying to compete with YouTube in terms of production deals, a content creator program similar to YouTube’s Creator Program and plans for a production studio for its creators in New York City.
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