Pluto TV, a Los Angeles, CA-based free OTT television service, recently raised a high single-digit-range strategic round of funding.
Backers included:
– The ProSiebenSat.1 Group, which acquired approx. 14% of shares in the company becoming the largest strategic shareholder,
– Scripps Networks and
– Sky Ventures.
Led by Tom Ryan, CEO, Pluto TV is an advertising-supported online television service with more than 100 linear live channels. Content includes television shows, films, sports, live events, cartoons and trending digital series. The company already has partnerships with more than 100 content providers, including Bloomberg Television, Reuters, CBS, Paramount, and Time Inc. Its offerings currently reach more than five million active users per month via the app which is free on mobile, web, and living room devices including Roku, Apple TV, Android TV, Playstation, Xbox and more.
Pluto TV has additional offices in New York City and Silicon Valley.
As part of the transaction, Pluto will acquire ProSiebenSat.1’s own video streaming service Quazer and takes over its team. Quazer offers its users more than 60 special-interest channels. A roughly 20-member team has built the portal in Berlin in recent months. For the time being, the brand names Quazer and Pluto TV will remain in use in their respective markets. The corporate offices will also remain in Berlin and L.A. As part of the new partnership Quazer’s managing directors Olivier Jollet and Sören Ziems will join the management team of Pluto TV.
FinSMEs
10/11/2016