Sequoia Invests $100M in British Indie Streamer Mubi, Valued at $1B

Sequoia Capital has led a $100 million investment round in Mubi, a British indie film streaming platform, valuing the company at $1 billion. Mubi, known for distributing award-winning films like "The Substance," has transitioned from a niche indie streamer to a mainstream player with about 20 million global users and a presence in multiple countries. This investment reflects a broader venture capital interest in media and entertainment, particularly in companies that intersect with AI technologies, with Sequoia also backing AI-driven startups in video and voice generation. Despite a general decline in media-related startup funding since 2021, AI-focused media companies are attracting significant investments, exemplified by firms like Runway, ElevenLabs, and Synthesia. Sequoia sees growing global demand for art house films and aims to leverage its connections within the film industry to benefit its broader portfolio. Mubi remains profitable and plans to release its first original film, "The Mastermind," later this year.