Moonbug Entertainment Ltd. is building a kids media empire for the YouTube generation.
The London-based company has acquired two of the most popular kids brands on YouTube: Cocomelon, an animated show that is the most-viewed channel on the entire site, and Blippi, a program hosted by entertainer Stevin John. Moonbug didn’t disclose the terms of the deals. According to Rene Rechtman, Moonbug’s co-founder and chief executive officer, the acquisitions were funded by raising $120 million from a group of investors, which included Goldman Sachs Group Inc., Felix Capital Partners LLP., Fertitta Capital Inc. and the Raine Group LLC. Moonbug plans to use some of the money to make additional acquisitions.
