You want to watch your Soccer team, but definitely don’t want to pay for those expensive sports bundles. You aren’t alone. Of the 3.5 million soccer fans in the world, many of them live in different time-zones and need an alternative to streaming the games on firstrowsports. With fuboTV you get just that. A cheap alternative to paying the exorbitant prices of sports bundles that delivers every game live to you 24/7. Recently raising series A, FuboTV’s website will replace ESPN for your soccer needs and get you one step closer to experiencing the most widely followed sport in the world.
Who were your investors and how much did you raise?
fuboTV raised a $4 million Series A, which was led by DCM Ventures and included I2BF Digital, LionTree Partners and Luminari Capital. Additional seed investments to this round include Anthony Vinciquerra, former CEO of Fox Networks Group, and Blake Krikorian, co-founder of Sling Media. In total, fuboTV has raised $5.6 million.
Tell us about your product or service.
fuboTV is the world’s first Internet TV service that is dedicated to streaming a wide variety of global soccer content. fuboTV provides Over the Top (OTT) streaming services that give soccer fans access to live global games and tournaments, 24-hour club channels, TV series and news in one single destination.
What inspired you to start the company?
I’ve always been a huge soccer fan but I could never keep up with all my favorite teams in the European leagues as they aren’t usually broadcasted in the U.S.. We created fuboTV as an inexpensive way for soccer fans to watch and follow their teams from anywhere in the world. Additionally, fuboTV gives content providers a way to reach fragmented audiences and monetize from this content.
How is it different?
fuboTV allows you to watch live sports starting at $6.99/month without having to pay for a cable bundle. fuboTV is the first company to set the bar on how to curate video programming targeting a focused but large audience.
What market you are targeting and how big is it?
We are targeting the 3.5 billion soccer fans worldwide and the $527 million dollar yearly streaming media market.
What’s your business model?
fuboTV is a subscription-based platform, which starts at $6.99 per month. This combined with advertising revenue is the business model.
What are the biggest challenges that you faced while raising capital?
VC’s have long been known to have issues with companies dealing with content. If you do not own the content, it’s hard for investors to see the value of the company.
What factors about your business led your investors to write the check?
There are two factors. The first is an experienced team and second is a proven market and business model.
What are the milestones you plan to achieve in the next six months?
We aim to make more key partnerships with content providers and networks, build up our marketing team, become more global and grow our user base.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Do not fundraise for the sake of fundraising. Determine whether your model can be bootstrapped and raise capital only if you need it. If you need capital, then tap on your network of entrepreneurs. Also, ask for introductions to VC’s who are active in your space. Always remember to pick your investors wisely.
Where is your favorite place to enjoy the summer weather in the area?
The soccer field – anywhere there is one!