After Reaching 13 Million Subscribers, CuriosityStream is Going Public
CuriosityStream, the science and nature-based streaming service, is planning to go public through a Special Purpose Acquisition Company (SPAC) after reaching an agreement with Software Acquisition Group, Inc. Upon closing the transaction, CuriosityStream will be listed on the NASDAQ under “CURI.”
The company now has 13 million paying subscribers, up from the 10 million they announced in December 2019. The company has 3,100 original and licensed titles with paying subscribers in over 175 countries.
CuriosityStream, which was founded by Discovery Channel creator John Hendricks, owes part of their growth to the deals they inked with cable operators. Instead of trying to grow the company on their own, Hendricks, along with CuriosityStream CEO Clint Stinchcomb, have sold the service to pay-TV operators who then bundle it for their own video and internet customers.
“CuriosityStream has the unique advantage of being a ‘pure-play’ streaming media service that is not burdened with legacy linear TV assets in cable and broadcasting. Our consumer promise of offering premium factual content on demand in the new era of streaming has been enthusiastically embraced by curious viewers worldwide,” said John Hendricks, Founder and Chairman of CuriosityStream.
The deal will see $180 million of cash on there company’s balance sheet including $25 million in new capital infusion. The business combination will value CuriosityStream at $512 million in equity value.