Mubi, a London, UK-based alternative movie streaming service, receives a $50m investment.
Huanxi Media made a $40m investment in Mubi China for 70% of the joint venture entity. In addition, it will make a strategic investment of $10m for 8% of Mubi, valuing the company at $125m.
The investment will enable the company to launch its curated video on demand service across China in 2016.
Led by Efe Cakarel, Founder and CEO, Mubi is a subscription video on demand service that offers 30 handpicked cult, classic and award winning films online to members in over 200 territories. It is available on the web, iPad, iPhone, Android, PlayStation, Amazon Fire TV, EE TV, Samsung Smart TVs, Apple TV and other internet‐connected devices.
The company also has offices in San Francisco and New York.