A24’s Valuation Hits $3.5 Billion After Major Funding Boost Led by Thrive Capital
A24, the independent studio renowned for its arthouse cinema, Oscar-nominated films, and high-quality horror movies, has seen its valuation surge to an impressive $3.5 billion after a fresh injection of capital. This new funding round, spearheaded by venture capital giant Thrive Capital, marks a significant milestone in the studio’s financial growth.
While A24 has not disclosed the specific amount raised in this latest funding effort, a source familiar with the details, who requested anonymity due to the confidentiality of the information, indicated that the studio’s valuation has climbed by 40% compared to its last funding round. Back in 2022, A24 secured $225 million in a funding round led by investment firm Stripes, which at the time valued the company at $2.5 billion.
Expressing their enthusiasm, A24 issued a statement highlighting their excitement about partnering with Thrive Capital. They praised Thrive for their “unique expertise” which they believe will play a crucial role in A24’s continued growth and expansion. Thrive Capital, headquartered in New York, is well-known for its investments in tech-centric companies such as Instagram, Spotify, and the payment platform Stripe. As part of the new partnership, Thrive Capital’s founder, Josh Kushner, will join A24’s board of directors.
In their statement, Thrive Capital conveyed their admiration for A24’s innovative approach to entertainment. “In A24, we see a company bringing extraordinary talent and creativity together with business model and technology innovation to reinvent entertainment for the modern age” the firm stated. A24’s latest success comes on the heels of the political apocalyptic thriller Civil War released in April. The film, featuring Kirsten Dunst, represents A24’s largest production budget to date at $50 million and has grossed over $120 million worldwide. This success underscores A24’s ability to blend artistic vision with commercial viability.
Over the years, A24 has cultivated a dedicated audience with its array of complex and critically lauded films. Notable titles include Uncut Gems, Hereditary and “Lady Bird. The studio’s knack for producing Oscar-winning content is evident with Everything Everywhere All at Once and Moonlight, both of which claimed the coveted Best Picture award.
In addition to its cinematic achievements, A24 has also made significant strides in television. The studio has produced hits like HBO’s provocative series Euphoria and the quirky Showtime satire The Curse. With its latest round of funding and strategic partnerships, A24 is well-positioned to continue its trajectory as a leading force in the entertainment industry.
SOURCE LA Times
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A24, the independent studio renowned for its arthouse cinema, Oscar-nominated films, and high-quality horror movies, has seen its valuation surge to an impressive $3.5 billion after a fresh injection of capital. This new funding round, spearheaded by venture capital giant Thrive Capital, marks a significant milestone in the studio’s financial growth.
While A24 has not disclosed the specific amount raised in this latest funding effort, a source familiar with the details, who requested anonymity due to the confidentiality of the information, indicated that the studio’s valuation has climbed by 40% compared to its last funding round. Back in 2022, A24 secured $225 million in a funding round led by investment firm Stripes, which at the time valued the company at $2.5 billion.
Expressing their enthusiasm, A24 issued a statement highlighting their excitement about partnering with Thrive Capital. They praised Thrive for their “unique expertise” which they believe will play a crucial role in A24’s continued growth and expansion. Thrive Capital, headquartered in New York, is well-known for its investments in tech-centric companies such as Instagram, Spotify, and the payment platform Stripe. As part of the new partnership, Thrive Capital’s founder, Josh Kushner, will join A24’s board of directors.
In their statement, Thrive Capital conveyed their admiration for A24’s innovative approach to entertainment. “In A24, we see a company bringing extraordinary talent and creativity together with business model and technology innovation to reinvent entertainment for the modern age” the firm stated. A24’s latest success comes on the heels of the political apocalyptic thriller Civil War released in April. The film, featuring Kirsten Dunst, represents A24’s largest production budget to date at $50 million and has grossed over $120 million worldwide. This success underscores A24’s ability to blend artistic vision with commercial viability.
Over the years, A24 has cultivated a dedicated audience with its array of complex and critically lauded films. Notable titles include Uncut Gems, Hereditary and “Lady Bird. The studio’s knack for producing Oscar-winning content is evident with Everything Everywhere All at Once and Moonlight, both of which claimed the coveted Best Picture award.
In addition to its cinematic achievements, A24 has also made significant strides in television. The studio has produced hits like HBO’s provocative series Euphoria and the quirky Showtime satire The Curse. With its latest round of funding and strategic partnerships, A24 is well-positioned to continue its trajectory as a leading force in the entertainment industry.
SOURCE LA Times
Share:
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