Mubi raises USD5.1 million in new investment round - filing
A filing with the US Securities and Exchange Commission last week indicated that Mubi had raised a new USD5.1 million investment for its startup. The new investment was said to be part of the startup's USD7 million investment round, which started on October 11. However, the SEC document did not indicate who the investors were.
Mubi was founded in Palo Alto, california in 2007. It has since received USD3.15 million in investments from angel investors Martin Varsavsky, Eduardo Costantini, and Alec Oxenford, among others.
Mubi is a social networking service that focuses on cinephiles. Its video streaming services were more centered on film lovers, and only curate an average of 30 films monthly. The films are mostly movie classics or independent films selected by a team of people. Mubi's services enriches the social networking experience through creative content like trailers, group discussions and others. In turn, Mubi earns via the number of enthusiasts at a starting fee of USD5 monthly.