BANGKOK: Singapore-listed investment holding company YuuZoo Corporation Limited announced that whilst the shares of the Company have been suspended, it has received a USD 3 million investment from a foreign investor into its streaming video subsidiary YuuFlix. [the_ad id=”31605″]The investor has received a 2.91% ownership in YuuFlix, corresponding to a valuation of USD 100 million for the subsidiary. The investment has been fully paid. YuuFlix has for its streaming video service signed agreements with more than 60 content partners who supply content in entertainment, fashion, beauty, lifestyle, documentaries and gaming.
As part of its video and content strategy, YuuZoo had earlier acquired France’s leading DVD distributor Cinram France, which held distribution agreements with several leading global movie studios such as Universal, Fox and Warner.
The plan was to expand these relationships to also include YuuFlix. As a result of the share trading suspension imposed on YuuZoo by SGX, the Company however lost its French investment. YuuFlix therefore decided to focus on local independent content.
Unlike other video and movie platforms, such as Netflix, iFlix, HBO Go and IndieFlix, YuuFlix provides an interactive platform where consumers can buy and view content under various usage models including subscription, (SVOD), advertising-supported (AVOD) and transactional single content downloads (TVOD). YuuFlix is in discussions with value-adding local marketing partners in Asia, Africa and Europe.