Disney hankering for more Hulu; Boingo 2018 earnings reported; Greycroft gives Beam a boost
Downtown headquartered venture capital firm Greycroft Partners led a Feb. 28 $5 million funding round for San Francisco-based Beam Solutions Inc., developers of transaction and fraud monitoring software for securities and banks. The Business Journal reports Beam also gained a $2 million debt facility from Silicon Valley Bank, and will use the total $7 million to expand regionally and hire more staff.
Westwood-based Wi-Fi provider Boingo Wireless Inc. announced its 2018 financial results Feb. 27, reporting revenue rose 22.7 percent year-over-year to total roughly $251 million. Socaltech reports that while fourth-quarter revenues posted at $68.7 million, the earnings per share were roughly 1 cent, compared to analyst predictions of nine cents per share. Net loss in the fourth quarter for Boingo was $0.4 million, compared to $1 million the previous year.
Walt Disney Co. already holds a 30 percent stake in West Hollywood-based streaming outfit Hulu alongside NBCUniversal but wants another 10 percent currently owned by WarnerMedia and AT&T Inc. Disney is in talks to buy 20th Century Fox Corp. and awaiting regulatory approvals, and reported last summer that Hulu’s value could reach $9.3 billion after the closure of the Fox deal, including a potential control premium of $1.25 billion, according to Variety.
Tech reporter Samson Amore can be reached at email@example.com or (323) 556-8335. Follow him on Twitter @samsonamore.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Greycroft Partners Leads Beam in $5 Million Series A
- Silicon Beach Report April 16: Hulu Buys Back 10% Stake from AT&T for $1.43B
- Silicon Beach Report March 20: Phillips & Temro Acquires Evocharge
- Silicon Beach Report May 2: Hulu Hits 28 Million Subscribers
- Silicon Beach Report Jan. 21: Hulu Lost $580 Million in 2018
- Silicon Beach Report April 25: Wavemaker Invests in Savonix
- Silicon Beach Report May 14: Disney Buys Out Hulu Stake