Exclusive-Video-sharing website BitChute seeks to raise $10 million in new funding round

FILE PHOTO: U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo

NEW YORK (Reuters) - Video-sharing website BitChute is raising $10 million in Series A funding at a valuation of $750 million to $1 billion, according to one of its investors and a presentation seen by Reuters, as it seeks to add new features that allow live-streaming and the payment of content creators by users.

BitChute, which bills itself as a free-speech alternative to Alphabet Inc-owned YouTube and other platforms, has had “negligible” revenue to date, shareholder Jeffrey Wernick, told Reuters, even though it has attracted a significant user base, particularly among young men.