The French OTT platform Molotov is looking for fresh money in order to continue operating, according to reports in various French media.
Initially, Molotov had said it wanted to raise up to €50 million, but clearly did not succeed. The start-up created by Jean-David Blanc (who holds 39.93% of the capital) then started to look for strategic partners.
According to Libération, discussions took place with TF1, M6 and France Télévisions, but failed. According to industry sources, the company is currently being evaluated by several French telecom operators, including Orange.
In theory, another potential buyer would be Canal Plus, which tried to launch a service similar to Molotov, but in practice the relations between the two companies are tense with Canal refusing to be marketed by Molotov.
Libération, also reported that Molotov is asking for a valuation of nearly €100 million, a high amount which TF1, M6 and France Télévisions decided was much too high. However, this valuation corresponds roughly to the last round of fundraising in 2016.
Earlier this year, Molotov has reached five million subscribers in France, but the service is still not profitable.
Molotov was founded in 2013 with the aim to disrupt the traditional television landscape. At the moment, the current shareholding consists of its founders (35%), investment funds (35%), industry partners including TDF and Sky (8%) and business angels (12%).
