The Rise of A24: A Look Into the Latest Investment Round

The Rise of A24: A Look Into the Latest Investment Round

A24, the indie distributor known for its unique and creative approach to filmmaking, has recently closed an investment round led by Thrive Capital, the New York investment firm founded by Josh Kushner. This investment marks an important milestone for the company, with Josh Kushner set to join A24’s board of directors. Additionally, existing investors who participated in the previous round, including Ken Fox’s private equity firm Stripes and investment fund Neuberger Berman, have shown increased support for the company.

Valuation and Plans for the Future

While the exact dollar amount of the investment was not disclosed, it is reported that A24’s valuation has seen a significant increase of 40% since its last funding round in 2022. This places the company’s valuation at just over $3.5 billion, up from $2.5 billion. The company has not specified how it plans to utilize the funds, but reports suggest that it will be used to invest in and expand production and distribution. A24 also plans to work on initiatives beyond the screen, including ventures into music, publishing, consumer products, and live theater.

Josh Kushner, the brother of Jared Kushner and a prominent investor, has a track record of backing successful companies such as Open AI, Instagram, and Spotify. Thrive Capital, with approximately $16 billion in assets under management, aims to invest in category-defining businesses across various industries. In a statement, Thrive expressed their excitement about partnering with A24, citing the company’s ability to bring extraordinary talent and creativity together with innovative business models and technology to revolutionize entertainment in the modern age.

A24’s Growth and Success

Since its launch in 2012 with initial seed funding from Tod Boehly’s Eldridge Industries, A24 has built a premium library of over 150 films and 50 television series. The company’s roster includes critically acclaimed titles such as “Uncut Gems,” “Moonlight,” and “Euphoria,” along with a remastered rerelease of the Talking Heads’ “Stop Making Sense.” A24 has garnered commercial success, critical acclaim, and a loyal fan base, earning numerous awards including Oscars, Golden Globes, and Emmys.

With this latest investment round, external investors now own approximately 12.5% of A24, with the company’s founders and employees maintaining a significant majority. The partnership with Thrive Capital and continued support from existing investors signal a bright future for A24, as it looks to further expand its reach and support groundbreaking storytellers in the entertainment industry. The company’s commitment to creative excellence and innovation positions it as a leader in the evolving landscape of entertainment.

Entertainment

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