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Tuesday, June 18, 2024

Mark Cuban-owned Fireside raised $25M at a $125M Valuation


Mark Cuban-owned Fireside is targeting funding of $25 million, taking its valuation to $125 million. The interactive platform helps content creators reach out to bigger audiences via virtual and live shows. It is lining up its Series A funding round while aspiring to scale up into the Metaverse and web3. Fireside is already in discussions with investors for this purpose.

The platform has already attracted several leading creators including Doug Ellin, Jay Leno, and Michael Dell. The app helps producers share programs globally while getting better analytics for discovering popular consumer content types in real-time. The startup founders include Falon Fatemi (Google graduate and co-founder of Node) and Mark Cuban. It is planning launches of NFTs, enabling monetization of creations, while getting into the Metaverse soon. A community DAO is also on the cards.

It is also taking to several companies like Netflix for discovering the possibilities of entering into strategic partnerships. The firm has got $8 million in funds till date, supported by Mark Cuban, Goodwater, Animal Capital, the Chainsmokers, HBSE, and NBA stars Kelvin Beachum, Larry Fitzgerald, and Baron Davis. Mark Cuban states how the platform helps content creators view and hear audience responses to live content, across Web3, Web2, and even VR.

New-generation social platforms will scale up direct interactions between audiences and creators, changing the monetization models accordingly. Clubhouse is another rival with backing from Andreessen Horowitz, while Calling has an investor in David Sacks.

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