The free streaming service Tubi is looking to begin a new round of funding, now looking for an additional $150 million, according to sources for The Information.
Tubi is one of many free, ad-supported streaming services offering TV episodes and movies without the need for a subscription or entering credit card information for access.
Since launching in 2014, Tubi has drawn the attention of many investors, raising over $35 million last year and receiving a $25 million credit line from Silicon Valley Bank earlier this year, according to Fox Business. In January, Tubi leadership announced that they would be investing $100 million in bringing content to their platform and expanding to a global audience in 2019.
If the free service is successful with this round of funding, Tubi would have the resources to be even more serious competition for other free streaming platforms like Pluto TV, XUMO, and others.
Tubi currently offers content from over 200 partners, including Lionsgate, MGM, Paramount, and Starz. Viewers can watch on Android, iOS, Roku, Apple TV, Amazon Fire TV, Xbox, PlayStation 4, Chromecast, TiVo, and Xfinity.
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