{"id":30408,"date":"2023-04-27T22:30:28","date_gmt":"2023-04-27T22:30:28","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/04\/27\/mark-cubans-streaming-platform-fireside-confirms-25m-series-a-at-138m-valuation\/"},"modified":"2023-04-27T22:30:29","modified_gmt":"2023-04-27T22:30:29","slug":"mark-cubans-streaming-platform-fireside-confirms-25m-series-a-at-138m-valuation","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/04\/27\/mark-cubans-streaming-platform-fireside-confirms-25m-series-a-at-138m-valuation\/","title":{"rendered":"Mark Cuban\u2019s streaming platform Fireside confirms $25M Series A at $138M valuation"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/26\/mark-cuban-backed-streaming-app-fireside-confirms-25m-series-a-at-138m-valuation\/<\/a><\/br>
\nMark Cuban\u2019s streaming platform Fireside confirms $25M Series A at $138M valuation<\/br>
\n2023-04-27 22:30:28<\/br><\/p>\n

\n

Fireside<\/a>, the Mark Cuban-backed interactive entertainment app<\/a>, has now confirmed its $25 million Series A, valuing the business at $138 million, post-money. The company had been rumored to be raising at a $125 million valuation<\/a> last year, after attracting a number of high-profile creators to its streaming platform for live and virtual shows. The funding and valuation were confirmed through Fireside\u2019s recent investor update, obtained by TechCrunch, which also mentions new strategic investors like Paris Hilton and others, and offers a first look at its interactive streaming technology for smart TVs.<\/p>\n

The latter is made possible through last year\u2019s acquisition of the streaming TV platform Stremium<\/a>. At the time, Fireside confirmed the deal would help it to accelerate its plans, saying it would be the \u201conly platform that turns creators, celebrities, brands and IP owners into the studio, networks and streaming services of the future.\u201d<\/p>\n

The company hopes to soon bring its interactive technology to smart TVs, Fire TV, Apple TV and Roku, where viewers could watch content on the big screen and engage via their phone, while their comments would display on the TV.<\/p>\n

\"\"<\/p>\n

Image Credits:<\/strong> Fireside<\/p>\n<\/div>\n

Reached for comment, Fireside confirmed the investor update\u2019s accuracy but said it has nothing more to add at this time.<\/p>\n

The update confirms the earlier reporting that Fireside\u2019s Series A had closed<\/a>, which it had yet to officially announce.<\/p>\n

It also confirms the newly added strategic investors, including Paris Hilton, Tim Connors from PivotNorth, Zeke Bronfman + Evan Abraham, Redbeard Ventures and David DeVoe.<\/p>\n

Though Fireside had once been compared to other live platforms like Twitter Spaces or Clubhouse, those comparisons weren\u2019t at all accurate. Not only does Fireside differentiate itself with its focus on streaming interactive videos,<\/a> the shows on its platform can also be recorded, saved or even simulcast to other social networks.<\/p>\n

Plus, the app includes a number of audience engagement tools and other features to aid creators with promotion, editing, measurement, distribution, monetization and audience growth, which are part of its end-to-end content production experience.<\/p>\n

Co-founded by Cuban, early Yammer employee Mike Ihbe<\/a> (who has since departed) and former Googler, YouTuber and Node co-founder Falon Fatemi<\/a>, who sold<\/a> her last company to SugarCRM, Fireside has attracted high-profile creators, including Jay Leno, Michael Dell, Melissa Rivers, Craig Kilborn and screenwriter and \u201cEntourage\u201d creator Doug Ellin.<\/p>\n

In the investor update, the company also references popular Hollywood medium Tyler Henry<\/a> as one of its creators, saying his network has grown to \u201ctens of thousands of members globally\u201d who connect with him \u201cmultiple times per month.\u201d<\/p>\n

The startup is also going to have a Hollywood moment of its own, as reality TV star Heather Dubrow from Bravo\u2019s The Real Housewives of Orange County will launch a lifestyle network, the HD Network<\/a>, on Fireside on May 9. That\u2019s given Fireside a bit of a promotion as part of The Real Housewives of Orange County Season 17, where both Fatemi and Cuban will appear<\/a>.<\/p>\n

Also thanks to its integration with Stremium, Fireside will be onboarding other partners to its platform. The deal brings \u201cover 100 new networks\u201d with \u201c24\/7 broadcasting live interactive programming.\u201d This includes names like USA Today, ArtFlix Movie Classics, Billiard, Boxing, Ted Talks, Docurama, English Football, eSports, Global Fashion Channel, InspireFlix, Law & Crime, MMA and others.<\/p>\n

These channels will have an \u201cOn Now\u201d indicator in the Fireside app, allowing users to watch alongside other audience members and react and comment.<\/p>\n

\"\"<\/p>\n

Image Credits:<\/strong> Fireside<\/p>\n<\/div>\n

This technology is something that\u2019s been popular in other streaming apps outside the U.S., like Rakuten\u2019s Viki, which allows users to watch and react to shows<\/a> in real time. More recently, a new streaming service Mansa<\/a>, focused on Black culture, added a similar feature.<\/p>\n

The investor update also mentioned that talent, brands and IP owners can make a minimum of $35 million in annual recurring net new revenue stream in their first year on Fireside. The company said it\u2019s now seeing a \u201cminimum of $100K\u201d within the first hours of a stream\u2019s launch. It didn\u2019t provide a source for this data or speak to how many streams were able to achieve these figures.\u00a0<\/span><\/p>\n

Fireside previously tested monetization by allowing creators to sell tickets or insert advertising. The company had also explored<\/a> web3 technologies, like NFTs \u2014 though those were not referenced in this latest update. The company now focuses on having creators sell subscriptions.\u00a0<\/span><\/p>\n

In addition to Cuban himself, other investors in Fireside include the Chainsmokers, HBSE, Goodwater, Animal Capital, NFL stars Larry Fitzgerald (retired) and Kelvin Beachum, and former NBA star Baron Davis. The company says it\u2019s aiming to reach profitability this year and is being evaluated for a Series B where it will look to include international strategic investors in order to expand globally.<\/p>\n

\u00a0<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/04\/26\/mark-cuban-backed-streaming-app-fireside-confirms-25m-series-a-at-138m-valuation\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/26\/mark-cuban-backed-streaming-app-fireside-confirms-25m-series-a-at-138m-valuation\/ Mark Cuban\u2019s streaming platform Fireside confirms $25M Series A at $138M valuation 2023-04-27 22:30:28 Fireside, the Mark Cuban-backed interactive entertainment app, has now confirmed its $25 million Series A, valuing the business at $138 million, post-money. The company had been rumored to be raising at a $125 million valuation last year, after attracting a […]<\/p>\n","protected":false},"author":1,"featured_media":30409,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-30408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nMark Cuban\u2019s streaming platform Fireside confirms $25M Series A at $138M valuation - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/04\/27\/mark-cubans-streaming-platform-fireside-confirms-25m-series-a-at-138m-valuation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mark Cuban\u2019s streaming platform Fireside confirms $25M Series A at $138M valuation - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/04\/26\/mark-cuban-backed-streaming-app-fireside-confirms-25m-series-a-at-138m-valuation\/ Mark Cuban\u2019s streaming platform Fireside confirms $25M Series A at $138M valuation 2023-04-27 22:30:28 Fireside, the Mark Cuban-backed interactive entertainment app, has now confirmed its $25 million Series A, valuing the business at $138 million, post-money. 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