August 11, 2020
FuboTV, the sports-themed online TV streaming platform offering access to live sports events as well as news and entertainment content, is looking to become a publicly held company through a $100 million initial public offering (IPO).
An IPO or stock market launch is a type of public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors.
New York-based FaceBank Co., which owns and operates fuboTV, Aug. 11 filed a registration statement with the U.S. Securities and Exchange Commission (SEC) relating to a proposed follow-on public offering of its common stock.
FuboTV merged with FaceBank Group in April combining fuboTV’s direct-to-consumer live-TV streaming platform for cord-cutters with FaceBank’s technology-driven IP in sports, movies and live performances. Launched in 2015, fuboTV delivers content through streaming devices, including connected TVs, mobile phones, tablets and computers. The company generated $169 million in revenue for the 12 months ended March 31.