The QYou completes US$7.3m financing deal
The best-of-the-web broadcaster said the funding comes at an important time for the company, with online video a “global phenomenon that shows no signs of slowing”.
The QYou formally began trading on March 31, 2017 under the symbol QYou, and completed the US$7.3 million of brokered and non-brokered financing with Canadian investment dealer Dominick Inc. as lead agent.
“With around 500 hours of video uploaded to YouTube each minute, viewers are facing content overload and there is a growing need for an aggregator to curate the most exciting and interesting videos from the internet,” said The QYou in a statement.
Launched in 2014, the QYou Media curates, licenses and programs short form internet video for video content providers worldwide – including traditional cable and satellite to IPTV, over-the-top content (OTT) and mobile carriers.
The company has deals in place with, among others, Showmax in Sub-Saharan Africa, Deutsche Telekom in Germany, Ziggo Sports and Knipper in the Netherlands and TotalPlay in Latin America.