Thoughtful Media Closes $8 Million in Convertible Bridge Financing, Ahead of Series B Round
Over-Subscribed Debt Financing Comes as Company Releases New Technology In China To Allow Content Creators to Simultaneously Engage All Major Chinese Video Platforms
20 MAY 2015, LOS ANGELES, USA
Thoughtful Media Group, a global multi-channel network (MCN) with offices in Los Angeles, Shanghai and Bangkok, has closed a convertible round of financing totaling $8 million from investors across the US, Europe and Asia ahead of a Series B offering planned for later this year. The combined funds will further Thoughtful’s push into emerging markets and advertising segments around the world.
Thoughtful Media Group, a global multi-channel network (MCN) with offices in Los Angeles, Shanghai and Bangkok, today announced it has closed a convertible round of financing totaling $8 million.
The investment, which was over-subscribed by $2 million by investors across the U.S., Europe and Asia, signals continued enthusiasm for Thoughtful’s leading role in emerging markets. The announcement also comes as the company releases new technology in China, allowing its nearly 1000 Chinese digital content creators to easily distribute videos across all of that country's video player platforms.
Thoughtful maintains a dominant market share in China as an MCN, with an estimated one-third of all user-generated content creators belonging to its rapidly growing China network. The company has also been expanding across Southeast Asia, occupying a large presence in Vietnam and in Thailand, where it recently opened an office in Bangkok. Its U.S. operation, which spun out a unit in April to service political campaigns in advance of the 2016 U.S. election, will achieve profitability during this quarter.
“By focusing mutually on technology in China, trend-setting in emerging markets where multinational advertisers are increasing investment spending and by using small and medium-sized content creators to provide influence for political campaigns in the U.S., we feel we are in a strong position to grow responsibly with an eye towards profits and diversification,” said Jak Severson, Thoughtful’s CEO. “Digital content creators continue to drive some of the most significant media results in the world today for marketers, campaigns, candidates and causes.”
The $8 million debt financing will convert into its Series B offering planned for later this year. The combined funds will further Thoughtful’s push into emerging markets and advertising segments around the world.