Exciting news: Future Today, a One Million by One Million (1Mby1M) incubated company, has been acquired by entertainment distributor and digital-network operator Cinedigm for $60 Million.
The acquisition is seen as evidence of Cinedigm “making a big new leap into online video” according to Variety, with Future Today being an ad-supported VOD network that operates over 700 free, over-the-top channels.
Based in Menlo Park, California, Future Today is an entirely bootstrapped company that operates very efficiently. It has about 24 full-time employees in the U.S. and India. They have produced over 3,000 original videos using their content-production capabilities in India. Cinedigm hopes to leverage that lower-cost production model for other divisions of the company.
The company is 100% owned by the founders, Vikrant Mathur and Alok Ranjan.
The Importance of Pivots
Future Today started out as iFood.TV and gradually broadened to become a connected TV focused video distribution platform.
Bootstrapping to Exit
In this context, I would like you to listen to my conversation with Dave Lambert of Rightside Capital, a firm that is very interested in Bootstrapping to Exit style investments. Dave and I also discuss the importance of pivots extensively in this conversation [2:42 – 33:00].
This segment is a part in the series : Best of Bootstrapping