FuboTV CEO on Going Public, NFL Season
FuboTV went public on Thursday.
Shares of television streaming platform fuboTV (FUBO) jumped nearly 10% in their debut Thursday, opening at $11 a share after the company raised $183 million in its upsized public offering.
The company's initial public offering was priced at $10 a share. At its debut price, fuboTV was valued at $684.3 million.
Earlier this year, fuboTV announced that it would merge with FaceBank Group, a virtual entertainment company, in a deal that valued the company at $700 million.
“FuboTV is one of those companies that we see is likely to do well in this environment. Their content and the offerings are considerably less expensive than the cable options," said FaceBank CEO John Textor.
The combined company is led by fuboTV CEO David Gandler.
FuboTV has several packages that offer customers as many as 164 channels of live television to stream on mobile devices, smart TVs, Apple TV, Chromecast, Roku and Amazon Fire TV.
The company has subscription pricing plans starting at $19.99 a month and topping out at $54.99 a month.
Since its founding in 2015, fuboTV has raised more than $250 million from media companies including AMC Networks, Discovery, Disney, Viacom and 21st Century Fox.
CEO David Gandler joined TheStreet to talk about going public. Watch the full interview in the video above.
You can follow Katherine Ross on Twitter at @byKatherineRoss.
Read more from Katherine Ross here.
Latest Videos From TheStreet and Jim Cramer:
- Jim Cramer: Shutdowns Make Running NYC Small Business Impossible
- Looking for a FAANG Alternative? Here's Where a Monday.com Investor Finds Value
- PPE and Your Portfolio: Inside a Disruptive Industry
- Jim Cramer: You Have to Sell Movie Theater Stocks
- Don't Try to Price Stocks Around the Election: Here's Why
- What to Expect From the Markets Following a Trump or Biden Victory
- Airline Stocks Fly Higher on Hopes of More Fiscal Aid
