Vizio Announces Closing of $257 Million IPO

Vizio, the Irvine, Calif.-based consumer electronics brand, March 29 announced the closing of an initial public offering of 12.25 million Class A shares at purchase price of $21 per share, or $257.2 million. The shares began trading on the New York Stock Exchange March 25 under the symbol “VZIO.”

Vizio over the past year has branched out into ad-supported video, inking multiple distribution deals with content holders for its Internet-connected SmartCast televisions.

The company last year announced the launch of a dozen free kids and family linear TV channels, Movies Anywhere transactional movie purchase platform, and NBCUniversal’s Peacock streaming service.

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“With increasing consumption on smart TVs, we are happy to make it easy for Peacock customers with Vizio smart televisions to stream all our content,” Maggie McLean Suniewick, president of business development and partnerships for Peacock, said in a statement last summer. “We offer Peacock as free to our distribution partners because we want people everyone to enjoy Peacock where and when they want it.”

Vizio shares are currently trading at $21.82 per share in midday trading.

Consumer Electronics Brand Vizio Launching IPO on New York Stock Exchange

Vizio, the Irvine, Calif.-based consumer electronics giant, is prepping an initial public offering as the company prepares to launch on the New York Stock Exchange. The company March 16 launched the roadshow for the IPO of more than 15.1 million shares of its Class A common stock priced from $21 to $23 per share.

In 2020, Vizio reported net income of $102.5 million on revenue of $2.04 billion, which was up from $1.83 billion in revenue and $23.1 million in profit in the previous year. The company’s SmartCast operating system had more than 12 million registered users accessing ad-supported content, in addition to direct access to third-party apps such as Netflix, Hulu, Peacock, Apple TV+, Disney+ and YouTube TV. That was up from 7.6 million registered users in 2019.

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Regardless, data from Statista suggests Vizio has been losing market share in the U.S. to Samsung, LG and China’s TCL, which manufacturers Roku-branded televisions.

 

Fubo TV Announces IPO Launch on New York Stock Exchange

Live sports streaming video platform Fubo TV Oct. 1 announced the launch of its initial public offering (IPO) of 15 million shares of common stock valued upwards of $165 million, or $9 to $11 per share.

The underwriters will have a 30-day option to buy an additional 2.25 million shares of common stock from fuboTV at the public offering price. Fubo TV intends to list its common stock on the New York Stock Exchange (NYSE) under the ticker symbol “FUBO.”

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The SVOD service is hoping to capitalize on the home-bound consumer looking to be entertained during the coronavirus pandemic. At the end of 2019, Fubo TV had 316,000 subscribers, with ad-revenue up 201%. It posted a $246.9 million loss on revenue of $150.8 million. Through March 31, 2020, losses totaled $62.7 million on revenue of $58.3 million.

Roth Capital Partners and Wedbush Securities are acting as co-managers for the proposed offering.

FuboTV Seeks $100 Million via Initial Public Offering

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.

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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.

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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.