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CuriosityStream Series-A

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CuriosityStream pitch deck to raise $140m Series-A round

This is the CuriosityStream pitch deck to raise a $140m series-a round in 2019.

About

CuriosityStream is a global factual streaming services and media companies. Our documentary series and features cover every topic from space exploration to adventure to the secret life of pets, empowering viewers of all ages to fuel their passions and explore new ones. With thousands of titles, many in Ultra HD 4K, including exclusive originals, CuriosityStream features stunning visuals and unrivaled storytelling to demystify science, nature, history, technology, society, and lifestyle. CuriosityStream programming is available worldwide to watch on TV, desktop, mobile and tablets. Find us on Roku, Apple TV Channels and Apple TV, Xbox One, Amazon Fire TV, Google Chromecast, iOS and Android, as well as Amazon Prime Video Channels, YouTube TV, Sling TV, DISH, Comcast Xfinity on Demand, Cox Communications, Altice USA, Suddenlink, T- Mobile, Frndly TV, Vidgo, Sony, LG, Samsung and VIZIO smart TVs, Liberty Global, Com Hem, MultiChoice, StarHub TV, Totalplay, Millicom, Okko, Gazprom and other global distribution partners and platforms.

Media companies are jumping into SPACs.

SPACs, or special-purpose acquisition companies, are shell companies created specifically to acquire firms and an increasingly popular way for companies including media and advertising ones to go public.

SPACs allow companies to avoid some of the scrutiny, time and cost of the traditional IPO process by merging with a shell company. For advertising and media companies, which are having a harder time getting funding, SPACs’ appeal is that they allow companies to raise money for growth and acquisitions.

CuriosityStream, a 5-year-old streaming service founded by former Discovery Communications founder John Hendricks, plans to go public this week through a reverse merger with Software Acquisition Group, a SPAC led by Jonathan Huberman, who formerly led video adtech firm Ooyala.

CuriosityStream focuses on factual content like documentaries and features, with more than 3,100 titles available, including 900 original titles. It reports 13 million paying subscribers buying monthly and yearly subscriptions that range from $3 a month to $70 a year, with 80% of new members choosing an annual plan.

The deal with Software Acquisition Group is valued at $331 million in enterprise value with $512 million in equity value. As part of its merger, CuriosityStream will receive about $180 million in cash, including a $25 million private investment in public equity. Before the merger, CuriosityStream raised about $255 million from Hendricks and investing firms TimesSquare Capital Management and Blum Capital Partners.

Hendricks said that he started looking at SPACs early this year and was most interested in ones that had not raised a lot of money, to avoid selling early shares of the company at a low price. He settled on Software Acquisition Group, which has raised $150 million — half as much as firms like former Hearst executive Joanna Coles is looking to raise for her firm Northern Star Acquisition Corp.

“Now the space is so crowded, especially with new and emerging companies,” he said. “But they need to have not only a track record of revenue but some good visibility.”

SPACs involve smaller road shows than the traditional IPO process where companies make their pitch to investors. Hendricks said he did virtual roadshows over Zoom leading up to the merger.

Funding rounds

Announced Date	Transaction Name	Number of Investors	Money Raised	Lead Investors
Oct 15, 2020	Post-IPO Equity – CuriosityStream	—	$25M	—
Feb 11, 2019	Private Equity Round – CuriosityStream	2	$140M	Blum Capital Partners, TimesSquare Capital Management
Dec 6, 2018	Venture Round – CuriosityStream	—	$114.7M	—