I have absolutely no idea how I missed this one. Q4 was just a haze of travel and deal making I guess. But another one of my mentors (see a previous post here) and one of the coolest cats I know, Suk Park sold his video streaming startup to one of the most amazing companies in the world. SoftBank (previous article about founder Masayoshi Son). Although the transaction size wasn’t announced, reports place it between $120m — $140m. Awesome exit considering DramaFever had ‘only’ raised ~$12m. Another great exit for nice content VOD plays.
Here is what I wrote back in October 2013
Suk Park, Co-Founder of DramaFever.comI think it’s super important, irrespective of whatever industry you’re in, to try and be on friendly terms with other significant players. The VOD players above are all slightly different, across different Geo’s, yet much further ahead in terms of market development than iROKOtv. So I have A LOT to learn. Speaking with Suk a few Fridays ago in NYC really made me realise ...
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