Molotov up for sale, Messier Maris advising – report (translated)
14 JUN 2018
Molotov, a French TV content online distribution platform, has been put up for sale by its founders after having failed to finalise a EUR 40m series B fundraising, French newsletter La Lettre de L’Expansion reported. The unsourced report said that the founders of Molotov, namely Jean-David Blanc, Jean-Marc Denoual, and Pierre Lescure, took the decision to appoint financial adviser Messier Maris to look for a buyer.
According to the report, Molotov failed to attract initial investors and existing shareholders such as Idinvest, TDF, and SKY [LON:SKY], which took part in the EUR 22m series A fundraising in 2016. The report also claimed that listed French TV groups M6 [EPA:MMT] and TF1 [EPA:TFI] declined an interest after having been approached for the second fundraising.
The report noted that Molotov managed to attract more than 5m subscribers 18 months only after its launch.