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. 

Daniel Frankel

Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!