It was recently announced that mobile network giant Orange will buy roughly 49% of the Paris-based startup Dailymotion. The amount of the stake has been announced publicly as €59 approximately million.
The French startup, which was founded in 2005, is similar to YouTube, allowing users to watch videos online. According to a previous investor, the video-site is now profitable, and has racked up over 90 million users, with an international user base spanning multiple countries.
So, what’s next? It’s likely there will be a second stage of the transaction where Orange will then buy the rest of Dailymotion, and in the meantime, the video-site will continue building its users to compete with platforms like YouTube.
By the way: If you’d like to stay up-to-date with acquisitions, funding and other interesting opportunities, make sure to subscribe to our free weekly EU-Startups Newsletter!
