Just a week after 360VUZ won Webit's Founders Games, the top telеcom in the Middle East - Etisalat confirmed interest in a $6 million investment in the company
Just a week after earning its place among the finalists of the largest and most competitive startup competition Founders Games, 360VUZ can now announce a closed first part of a $10 million round at a $70 million valuation (made within Webit).
“The invitation to 360VUZ to participate in the competition came from one of the most successful investors and entrepreneurs in Bulgaria and a leading shareholder in WIN - Ivo Evgeniev (Rosslyn Capital). This proves the power of referrals and the circle of trust that Webit has built over the years around the world, as well as the power of the collective intelligence behind the selection of Founders Games finalists and the investments WIN makes in them” - said Dr. Russev.
Webit's mission has always been to support the startup ecosystem to meet the founders of fast-growing companies with the right partners, secure and increase their funding, help them with global media coverage and grow their business. Such is the case with 360VUZ.
Based on a contract between Webit and WIN, WIN (Webit Investment Network) investors will soon have their ownership in 360VUZ on the same terms as all other investors in this round, regardless of the size of their check. We look forward to telling the successful stories of the rest of Founders Games 2022 finalists!
The application window for the 2022 Founders Games Winter Season is now open at www.foundersgames.org. You can apply with your startup or recommend a fast-growing company to apply until October 1, 2022.
About 360VUZ (www.360vuz.com):
The company was founded in 2017 in the United Arab Emirates. The field they are developing in is Media and Entertainment (Games, Metaverse, eSports, VR/AR, NFT). 360VUZ's mission is to build a VR (virtual reality) ecosystem to become a mainstream experience for sporting events, celebrity appearances, concerts and more. The company owns the largest library of 360-degree video content in the world. Their business model is a freemium model with monthly subscriptions and advertising. They now have over 200,000 paying monthly subscribers, growing 15% month over month. The company is expected to double its revenue from the previous year and reach over $8M by the end of 2022.
About Etisalat Ventures (www.eand.com):
Since 1976, they have pioneered new technologies and brought these to new people and new places. First as the Emirates’ telephone company, today as the technology and investment group, e&. The investment unit of Etisalat - a communications company with nearly 100 million users across the Middle East and Africa region.
About Webit.Foundation (www.webit.org):
In 2022 Webit celebrates 15 years of building and growing a global community of change makers, innovators and digerati from all around the world. The Webit festivals are famous for bringing over 15,000 curated and selected attendees from over 190 countries as well as hosting visionary leadership discussions on a broad range of topics shaping the desirable, sustainable and resilient future. Erik Schmidt named Webit and the global Webit community “a service to the human kind”. More info on Webit and the upcoming Webit events at: www.Webit.org
About Founders Games (www.foundersgame.org):
12 years ago, Dr. Plamen Rusev created Founders Games, with the aim of developing entrepreneurship and innovation in Bulgaria and the world. 12 years later, the competition is the biggest in the world with an award pool of $10 million in 2022 - the biggest ever! The collective intelligence of over 200 investors evaluates the participating high-growth companies from around the world in 5 rounds, making the competition one of the most contested in the world. Founders Games is Webit.Festival's growth program available to companies with $500K - $20M in funding. This is a special invitation-only program with a focus on high-growth, high-potential companies. More than 200 investors - VCs, business angels, family offices and dozens of corporate partners from major companies around the world join the jury and the selection process of the global winners.
About WIN (Webit Investment Network - www.webit.network):
A few weeks ago, the newly established 'Webit Investment Network' had a super successful IPO (Initial Public Offering) with over 240% oversubscription and more than 750 investors. WIN is the public finance tool that Webit created to democratize access to wealth and opportunity, and to bring together retail investors from around the world and the global Webit community and turn them into impact investors by investing in the finalists of the Games for Founders Games. Webit and the global community of investors and leaders will continue to collaborate and take care for the future success of all finalists in order to create value for WIN investors and a better and sustainable future for all. WIN has the exclusive right to invest in Founders Games finalists.