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FuboTV Raises Another $20 Million Through Stock Sale to Credit Suisse

(Image credit: fubotv)

Virtual MVPD fuboTV has sold just over 2.16 million in stock shares to Credit Suisse Capital LLC in a deal valued at $20 million. 

In its deal announcement, FuboTV, which merged with publicly traded virtual bank FaceBank Group Inc. in March to form a company doing business under the brand name fuboTV, said it has now raised $46 million from institutional and private investors in calendars years 2020. (FuboTV had raised $151.3 million as a startup launched in 2014.)

The company said it “intends to continue to raise capital to support growth strategies and funder operation.” 

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FuboTV said it ended 2019 with just under 316,000 paying subscribers. And the company seems intent on competing in a fast-maturing vMPVD market.

Two weeks ago, fuboTV announced its first-ever carriage deal with the Walt Disney Company, providing a streaming service that markets itself as a sports specialty platform access to the ESPN family of networks for the first time. 

Last week, the vMVPD announced its latest price increase, with base-tier customers now paying $60 a month.