Details On Shane McMahon’s Company Going Public; Finances & More
Here are details on Shane McMahon taking his YOU On Demand company public, courtesy of thewrap.com:
– According to an SEC filing, McMahon loaned his YOU On Demand company $3.0 million in May to cover expenses.
– The company reported a net loss of $4.8 million in Q1-2012 and generated revenue of $2.0 million during the quarter.
– YOU On Demand provides video on-demand services in China and is essentially in start-up mode.
– McMahon noted the company went public on Nasdaq to “position the company correctly for growth.”
– The investment money for advertising & marketing in China.
– The company plans to grow to 11 million homes in China by the end of the year after launching in three million homes late last year.
– McMahon also stated that having the support of major US studios with a 20-year exclusive license to distribute movies in China gives them security.