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MoviePass Parent Files To Raise $1.2 Billion To Stay Afloat (variety.com)
An anonymous reader quotes a report from Variety: Helios and Matheson Analytics, the struggling parent company of MoviePass, filed a registration statement with the SEC to raise up to $1.2 billion in equity and debt securities over the next three years. The funding is intended to support the cash-burning operations of MoviePass, as well as the MoviePass Ventures movie investment subsidiary, MoviePass Films and Moviefone, which Helios and Matheson recently acquired from Verizon's Oath.
Of course, whether Helios and Matheson can actually persuade investors to keep pouring money into the venture is unknown. The announcement comes after Helios and Matheson, the New York-based data and analytics company that bought MoviePass in 2017, last month announced a $164 million bond sale to provide working capital for MoviePass.
Of course, whether Helios and Matheson can actually persuade investors to keep pouring money into the venture is unknown. The announcement comes after Helios and Matheson, the New York-based data and analytics company that bought MoviePass in 2017, last month announced a $164 million bond sale to provide working capital for MoviePass.
What the hell are these investors investing in? This is a company that sells $10 bills for $5. This is one of the stupidest business models I think I've ever seen (and I'm kinda' old).
I don't respond to AC's.