Exclusive: Metacafe to be sold for USD 200 million - Israel Business, Ynetnews
 
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Exclusive: Metacafe to be sold for USD 200 million

Owners of Metacafe, from Tel Aviv, in advanced stages of negotiations for selling company. Estimated price tag: USD 200 million. Company runs one of largest video-sharing sites on Web, directly competes with YouTube

Eli Shimoni
Published: 12.07.06, 18:02 / Israel Business

The Tel Aviv-based company Metacafe that developed a video-sharing platform on the Internet is slated to be sold for USD 200 million, as was made known to Ynet.

 


Metacafe's website. One of largest video-sharing sites on Web

 

Metacafe was founded in July 2003 by entrepreneurs Eyal Herzog, Arik Czerniak, and Ofer Adler. Since its founding, the company has earned about USD 20 million, mainly from venture capital funds Benchmark Capital and Accel Partners.

 

Metacafe's headquarters are in Tel Aviv and Palo Alto, California. The company employs 40 people.

 

Metacafe is one of the largest video-sharing sites on the Web. Every month about 17 million users enter the site and watch more the 450 million video clips uploaded by the users themselves. The Tel Aviv-based company is considered a direct competitor of YouTube, which was sold to Google for USD 1.65 billion.

 

Metacafe's site uses unique ranking system (VideoRank) that allows users to rank each video, prevents videos from being put up more than once, and blocks low quality videos.

 

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