Details On Shane McMahon’s Company Going Public; Finances & More

Published On 06/15/2012 | By PWMania.com Staff | News

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.

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