Our Mission Our mission is to build the world’s leading global live TV streaming platform with the greatest breadth of premium content, interactivity and integrated wagering.
On December 1, 2021, the Company acquired 100% of Edisn Inc. (“Edisn”), an AI-powered computer vision platform with patent-pending video recognition technologies based in Bangalore, India, for approximately $14.4 million (“Edisn Acquisition”). The consideration paid was cash of $6.1 million and 464,700 shares of the Company’s common stock with a fair value of $8.3 million as of the date of closing. The Company accounted for the Edisn Acquisition as a business combination under the acquisition method of accounting.
On February 26, 2021, the Company consummated the acquisition of Vigtory, Inc. , (“Vigtory”) a sports betting and interactive gaming company, as a result of the merger of fuboBet Inc. , a wholly-owned subsidiary of the Company, into Vigtory, whereby Vigtory continued as the surviving corporation (the “Vigtory Acquisition”) and its name was changed to Fubo Gaming Inc.
On December 6, 2021, the Company acquired approximately 99% of the equity interests in Molotov S.A. S (“Molotov”), a television streaming platform located in France, for €101.7 million or $115.0 million (“Molotov Acquisition”). The consideration paid in cash totaled €14.4 million or $16.3 million, and the issuance of 5.7 million shares of the Company’s common stock with a fair value of approximately $98.8 million. Molotov is included in the streaming segment and its contribution to revenue and operating loss during the year ended December 31, 2021 was $1.4 million and $8.1 million, respectively.
The Molotov Acquisition was accounted for using the acquisition method of accounting in accordance with ASC 805, which requires recognition of assets acquired and liabilities assumed at their respective fair values on the date of acquisition. As of December 31, 2021, the Company has completed a preliminary allocation of the purchase consideration. The Company is gathering information to assess the completeness and accuracy of certain liabilities and related accounts, and therefore the allocation of the purchase price cannot be finalized as of December 31, 2021. The Company expects to finalize the valuation of these assets and liabilities, and consideration transferred, as soon as practicable. Any changes to the preliminary estimates of the fair value of the assets acquired and liabilities assumed will be recorded as adjustments to those assets and liabilities and residual amounts will be allocated to goodwill.
The following tables set forth our financial performance by geographical location:
Total Assets Total Revenue
United States $ 1,207,038 $ 634,045 International 162,740 4,305 Total Revenue $ 1,369,778 638,350
patience awards investors. stomach the volatility. short term pain for long term gains. investing literally means buying part of a company to profit off of their futureee success not tomorrows or next months. when this finally expands everywhere and everyone has access to fubotvs sportsbook betting on live games Tech this will blow the heck up zooming past all time highs. it's not smart to bet against the popularity of sports. right now their is just time consuming stuff to deal with to get over the sports gambling regulations which are different per state. it will happen just not over night. getting shares at these prices is a steal. pretty much every awesome expensive stock at one point and sometimes for years and years was under $10 until it was their time and the stock reflected the real potential of their company.
Susan1979
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Very deep words and vision of this company. Thank you for sharing! I also hope that Sport will continue and increase in our lives and in our society. Every sport for every type of person, the slow like me and the faster ones like you! Let's how we can put our energy together for the right cause! Thank you so much for sharing.