FITE's Parent Company Raises $200 Million Ahead Of NASDAQ Listing

Triller is following in the footsteps of UFC's parent company, Endeavor, and has filed with the SEC to go public by the end of the year.

According to The Wrap, Triller has raised $200 million in financing, and is hoping for a $3 billion valuation for their initial public offering (IPO). The company had initially raised another $200 million from investors like Falcon Capital and Clearvue Partners for an SPAC merger with SeaChange International for an expected valuation of $5 billion, but the deal was pulled earlier this summer due to market volatility. This most recent round of financing came from multiple sources, with only Fubon Financial mentioned by name.

Getting its start as a social media company, Triller saw massive increases in business after countries like India banned the popular app TikTok, which led to a spike in users for the fledgling company. The parent company of Fite TV, Triller has been making waves in the combat sports world with Triller Fight Club, a party-like promotion that features rapper Snoop Dogg as a figurehead, as well as in the music world, where the company owns the popular Verzuz series, a virtual DJ battle series that rose to prominence during the COVID-19 lockdowns. According to The Wrap, Triller also finished their acquisition of Bare Knuckle Fighting Championships.

Triller purchased the popular combat sports platform Fite TV in 2021. Fite is the home to numerous independent wrestling promotions, as well as NJPW of America's US broadcasts, and AEW's international PPV and television broadcasts.