Online Video Content Community to Expand Technological Capabilities and Open offices in San Fransisco

New York, NY - July, 5 2006 - Video entertainment site Metacafe (www.metacafe.com) announced today that it has completed its second of round of venture capital funding, securing $15M led by new investor Accel Partners, with significant participation from initial backer Benchmark Capital.  With the investment, Accel’s Kevin Efrusy, an investor in Facebook, will join Metacafe’s board of directors.

Metacafe’s worldwide viewers and contributors stream and download more than 400 million video files each month, making Metacafe one of the fastest growing video sites on the web. Metacafe, which has grown its revenues more than tenfold since the beginning of 2006 will use the new funds to open its U.S. headquarters and invest in marketing, contributor remuneration and new distribution technologies.

(more…)

Red Herring on Metacafe: ” At Metacafe, users view new content and rate whether a video clip is hot or not. This tends to filter out videos of Baby’s Day at the Beach, or a drunken fraternity party.”

Click here for full article.