MoviePass Inc. announced it has raised its seed financing led by Animoca Brands, a Hong Kong-based game software, blockchain and venture capital company. The seed round also inc…
Inc. announced it has raised its seed financing led by Animoca Brands, a Hong Kong-based game software, blockchain and venture capital company. The seed round also includes participation from Claritas Capital, Emerald Plus, Gaingels, Harlem Capital, PKO VC and Sandhill Angels. As part of the deal, Animoca Brands’ executive chairman and co-founder Yat Siu will join the board of MoviePass, which is a subscription movie-going service.
It’s been a chaotic few years for MoviePass, which experienced explosive growth after introducing a $9.95 monthly membership plan in 2017, only to go bankrupt in 2020. The company was re-acquired by Spikes roughly a year later . Spikes announced that he would re-launch the service in 2022. He said he did not consider changing the name of the company, despite the drubbing it received online when MoviePass suffered several outages as its financial issues grew more severe.
“We are both thinking about things like, what’s the future of cinema,” says Spikes. “We are likeminded.”
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