[img src="" caption="" credit="" alt=""]
Car enthusiast site Streetfire has raised $6.1 million in a Series A round of funding.
The network, which operates around the premise of video-sharing, managed to survive the dot-com bust by opening up for user-submitted content. The funding will pretty much go towards building out the site, and bringing in more premium content from top creators and publishers. The hope to steal market share from YouTube is a lofty goal that most video-sharing networks, like ustream, have in common.
It's also been experimenting with soe post-roll ads, and may be looking to do overlay ads, though it has decided strongly against pre-roll ads. With the site on track to pull in $1 million + this year from ad revenue, the lack of pre-roll ads doesn't seem to be hurting Streetfure too much. The other half of Streetfire's company, Vidiac, is more of a hosting service for niche video networks. This aspect of the business will be minimized as Streetfire focuses on its network now that it's been funded.