Netflix readies for debt financing; Two Bit Circus welcomes developers; Canoo raising $200 million
Arts District-based micro-amusement park operator Two Bit Circus Inc. opened a new program to help game developers create quick and easy location-based entertainment venues. According to VentureBeat, Two Bit Circus’ new “Park as a Platform” program will allow developers to use the company’s 38,000-square-foot indoor park as a space to test publishing and physical development. Once content is ready for trial, the new entertainment offerings will be opened to the public to test as part of Two Bit’s ongoing “Beta Nights” events.
Canoo, the Torrance-based electric vehicle manufacturer formerly known as Evelozcity, has already raised $1.25 billion since its 2017 founding but seeks to raise an additional $200 million for development. TechCrunch reports the 400-person company plans to sell electric cars on an as-needed subscription basis, and will target roughly 35 cities when it is ready to launch in 2021.
Netflix is seeking as much as $2 billion in funding, which it plans to raise through debt financing and unsecured bonds. According to Variety, the move will bring Netflix’s long-term debt total to roughly $12.3 billion. This is the seventh time that the company, which has significant operations in Hollywood, has used debt to raise capital. Netflix raised $2 billion in October and expects to spend up to $15 billion on content by the end of 2019. It has raised roughly $3.6 billion since its 1997 founding.
Tech reporter Samson Amore can be reached at email@example.com or (323) 556-8335. Follow him on Twitter @samsonamore.
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