Video Site Gets Funding From Lionsgate; $21 Million For 42 Percent Stake, the online video site based in Beverly Hills, has received an undisclosed amount of investment from Lionsgate, the major independent film and TV studio. As part of the deal, Lionsgate will syndicate its video and clips into, which the companies say have about 17 million monthly unique visitors. The studio will also tap’s talent for possible production deals in the future.

Founded in 1998, this is’s first round of funding…it had been self-funded till now. It has over the last year focused on funding original video, and has recently did a deal with NBC to create an online video series, and has similar deals with Endemol and Twisted Pictures.

Updated: Variety is reporting quoting sources that Lionsgate ponied up $21 million in stock for a 42 percent stake in Lionsgate also owns a 20 percent stake in online movie download site CinemaNow, and will continue to digitally distribute its library of content on the service.