Moonbug Acquisition, Valuation, Funding & Investors
Moonbug was acquired by Next Generation Media for $3B in November 2021, a 12.7x multiple on $237M of revenue.
Moonbug acquisition price
$3B
Acquired by Next Generation Media · Nov 2021
Moonbug revenue at acquisition
$237M
Last twelve months · Nov 2021
Moonbug revenue multiple at acquisition
12.7x
EV/Revenue · Nov 2021
Moonbug EBITDA multiple at acquisition
30.0x
EV/EBITDA · Nov 2021
About Moonbug
Moonbug is a London-headquartered global children's media company producing animated videos and audio content across YouTube channels like Little Baby Bum and My Magic Pet Morphle. With studios in Los Angeles, it releases over 1,000 minutes of programming monthly teaching social-emotional skills through songs and stories. Acquired by Candle Media in 2021, Moonbug distributes via Netflix, Amazon Prime Video, and its own app, reaching audiences in 190 countries with dubbed content in 25 languages.
Founded
2018
HQ
LondonWebsite
Status
Acquired
Customer focus
B2C
Revenue model
Advertising
Revenue
$53M (Jul 2020)
Valuation
$1B (Jul 2020)
Moonbug Acquisition
Moonbug was acquired by Next Generation Media for $3B on 4 November 2021.
The acquisition price implies a 12.7x revenue and 30.0x EBITDA multiple on $237M of revenue.
Before the acquisition Moonbug had raised $265M across 2 funding rounds.
Moonbug Entertainment, a London-based digital-first children's entertainment company founded in 2018, aggregates and produces popular YouTube kids' content including CoComelon, Little Baby Bum, and Blippi, with a library of over 550 hours distributed on 100+ platforms like YouTube, Netflix, and Hulu. The company rapidly scaled by acquiring nearly 30 brands using $400M in debt and equity, achieving significant viewership with 2.37 billion monthly views across its top channels. In November 2021, Moonbug was acquired by Candle Media, the entity referred to as Next Generation Media, backed by Blackstone and led by former Disney executives Kevin Mayer and Tom Staggs, following their purchase of Hello Sunshine. The deal valued Moonbug at $3 billion, marking a major exit for its investors with over 10x MOIC, and allowed founders René Rechtman and John Robson to retain equity stakes alongside management. Candle Media aimed to expand Moonbug's franchises across digital platforms, licensing, and merchandising, leveraging elite talent at the intersection of content, community, and commerce. This transaction highlighted the booming valuation of digitally native kids' content creators amid investor interest in the sector.
| Acquirer | Date | Type | Price | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|
| 4 Nov 2021 | Strategic M&A | $3B | 12.7x | 30.0x |
Moonbug Valuation
Moonbug is currently valued at $1B, based on its undisclosed-stage round in July 2020.
The $120M round was led by Fertitta Capital and Goldman Sachs Growth Equity, with participation from Felix Capital and The Raine Group.
Moonbug valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2020 | Undisclosed stage | $1B | 18.9x |
Moonbug Revenue
Moonbug's latest recorded revenue is $53M, as of its undisclosed-stage round in July 2020. At a $1B valuation, that implies a 18.9x revenue multiple.
Moonbug revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2020 | $53M | $1B | 18.9x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Moonbug Funding History
Moonbug has raised a total of $265M across 2 funding rounds.
Moonbug's first fundraising round was a $145M Series A in December 2018. The most recent completed round was a $120M undisclosed-stage round in July 2020.
Moonbug funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2020 | Undisclosed stage | Fertitta Capital (lead); Goldman Sachs Growth Equity (lead); Felix Capital; The Raine Group | $120M | $1B | Moonbug Entertainment is a London-based global entertainment company founded in 2018, specializing in children's content through popular YouTube channels such as Cocomelon, Little Baby Bum, and Blippi. On July 31, 2020, Moonbug acquired the YouTube channels Blippi and Cocomelon, boosting its monthly subscribers to over 235 million across more than 100 platforms globally and achieving more than 7 billion average monthly views, positioning it as the largest digital kids entertainment company. In August 2020, Moonbug raised $120 million in a funding round led by Fertitta Capital and Goldman Sachs Growth Equity, with participation from Felix Capital and The Raine Group, valuing the company at nearly $1 billion post-money. The Raine Group holds a majority stake following this and prior investments totaling $265 million. For the full year 2020, Moonbug reported revenues of £39.6 million (approximately $53.8 million), marking 71.1% growth, primarily from distribution and self-serve platform revenue like YouTube advertising, with additional income from originals/brand productions (£5.5 million) and licensing/merchandise (£4.8 million); the company recorded an operating loss of £1.4 million attributed to a legal dispute. Moonbug's model focuses on scaling brands with global potential through content expansion, broad distribution, licensing, merchandise, and partnerships, such as with Universal Music Group for music distribution generating 150 million monthly streams. |
| Dec 2018 | Series A | The Raine Group (lead); Fertitta Capital; Felix Capital | $145M | - | Moonbug Entertainment, founded in 2018 by entertainment executives René Rechtman (former head of digital studios at Disney) and John Robson (ex-Paramount and HTC), is a London-based company focused on acquiring and distributing kids' media content to help children build life skills. On December 17-19, 2018, it raised $145 million in a Series A round led by The Raine Group, with participation from Felix Capital and Fertitta Capital. The funds were earmarked for aggressive M&A to expand its portfolio, targeting eight media businesses with high viewership, engagement, and quality IP. Moonbug had recently acquired Little Baby Bum, a popular children's sing-along YouTube channel with 23 billion views across platforms, including a video with 2.1 billion views. The company quickly scaled post-funding, leveraging YouTube hits like Little Baby Bum and later Cocomelon (acquired in 2020), which amassed billions of views and over 100 million subscribers. By 2019, Moonbug employed an average of 80 people (up from 19 in 2018) and expanded operations across the UK, USA, Australia, South Africa, and the Netherlands. It pursued licensing deals for toys (e.g., with Little Tikes), clothing, bedding, and publishing, emulating successful YouTube kid brands like Ryan's World. Subsequent developments included a 2020 $120 million raise from Goldman Sachs and Fertitta Capital, followed by a roughly $3 billion acquisition in 2021 by Candle Media (backed by Blackstone). Reports indicate Moonbug achieved around $250 million in annual revenue within a year of founding with 50% profit margins, treated as a financialized asset class rather than traditional media. |
Who has invested in Moonbug?
4 investors have backed Moonbug across its funding rounds, including Felix Capital, The Raine Group, Fertitta Capital and Goldman Sachs Growth Equity.
Lead investors include Fertitta Capital, Goldman Sachs Growth Equity and The Raine Group.
Moonbug Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Los Angeles, CA | 2 | Lead | Dec 2018 | |
| London | 2 | Participant | Dec 2018 | |
This data is available for Pro users. Sign up to see all 4 Moonbug investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Moonbug
Moonbug has acquired 5 companies to date.
Last acquisition by Moonbug was on May 24th 2022. Moonbug acquired One Animation for undisclosed valuation.
Latest Acquisitions by Moonbug
| Description | One Animation is a Singapore-based CG animation studio producing family content for global broadcasters. Its portfolio includes series aired on Disney Channel, Cartoon Network, Nickelodeon, and Discovery Kids in over 100 countries. Employing an international team, the studio optimizes production pipelines for efficient high-quality output. | Little Angel is a Los Angeles-headquartered media company operating a YouTube network with nursery rhymes and educational songs for toddlers. Its main channel exceeds 15 million subscribers, featuring 3D-animated videos like Wheels on the Bus in multiple languages. The content streams to platforms including Netflix Kids. | Blippi is an educational media brand producing videos and merchandise teaching children about vehicles, animals, science, and daily activities. Created in 2014 by Moonbug Entertainment, the Los Angeles-based franchise streams on YouTube, Netflix, and Hulu with episodes featuring host Stevin John visiting zoos, farms, and museums worldwide. Blippi extends to books, toys, and live tours across North America and Europe. | CoComelon is a YouTube children's educational content producer creating videos designed for viewers under six years old. The channel focuses on teaching fundamental concepts including letters, numbers, shapes, colors, and animals through animated musical content. Operates as one of the most-viewed children's entertainment channels globally. | |
| HQ Country |  |  | | | |
| HQ City | Singapore | Montreal | Las Vegas, NV | Jersey City, NJ | |
| Deal Date | 24 May 2022 | 9 Feb 2022 | 31 Jul 2020 | 31 Jul 2020 | |
| Valuation | undisclosed | undisclosed | $28M | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Moonbug acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Moonbug Competitors
Moonbug competitors include listed companies like Bilibili and China Literature, and private ones like Create Music Group, Spotter, Quibi and Kakao Entertainment.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 China | Publicly listed | $4.5B | $464M | $6B | 0.8x | |
| Los Angeles, CA | Private | - | - | $2.2B | - | |
| Los Angeles, CA | Private | - | - | $2B | - | |
| United States | Private | - | - | $1.8B | - | |
 Seongnam | Private | $1.2B | - | $7B | 5.8x | |
| China | Publicly listed | $1.1B | ($85M) | $2.4B | 1.2x |
Moonbug Public Comps
Moonbug is no longer listed, but its public comps include NCsoft, Perfect World Co., Imax, Prime Focus, Canal+, COL Global, Lionsgate Studios, ITV plc, Toei Co. and China Film Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.1B | $368M | 1.7x | 1.1x | 5.0x | 5.5x | |||
| $993M | $170M | 2.4x | 2.1x | 13.9x | 10.9x | |||
| $410M | $130M | 7.5x | 6.8x | 23.5x | 14.9x | |||
| $478M | $149M | 6.8x | - | 21.7x | - | |||
| $8B | $749M | 0.8x | 0.7x | 8.7x | 5.8x | |||
| $247M | ($78M) | 10.8x | 8.9x | (34.3x) | (2053.7x) | |||
| $2.6B | $1.1B | 2.7x | 2.4x | 6.3x | 22.8x | |||
| $4.7B | $596M | 0.9x | 0.9x | 7.3x | 5.7x | |||
This data is available for Pro users. Sign up to see all Moonbug competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Moonbug
| When was Moonbug founded? | Moonbug was founded in 2018. |
| Where is Moonbug headquartered? | Moonbug is headquartered in London, United Kingdom. |
| Is Moonbug publicly listed? | No, Moonbug was acquired by Next Generation Media in November 2021. |
| Who acquired Moonbug? | Moonbug was acquired by Next Generation Media in November 2021. |
| How much was Moonbug acquired for? | Moonbug was acquired for $3B in November 2021, a 12.7x revenue multiple. |
| What is Moonbug's valuation? | Moonbug was last valued at $1B in its undisclosed-stage round in July 2020. |
| How much funding has Moonbug raised? | Moonbug has raised $265M across 2 funding rounds. |
| What was Moonbug's last funding round? | Moonbug's last funding round was a $120M undisclosed-stage round in July 2020, led by Fertitta Capital and Goldman Sachs Growth Equity. |
| Who are Moonbug's investors? | Moonbug's investors include Fertitta Capital, Felix Capital, The Raine Group and Goldman Sachs Growth Equity. |
| What is Moonbug's revenue? | Moonbug's latest recorded revenue is $53M (July 2020). |
| What is Moonbug's revenue multiple? | Moonbug's latest valuation implies a 18.9x revenue multiple ($1B valuation on $53M of revenue). |
| Which companies are comparable to Moonbug? | Companies comparable to Moonbug include Bilibili, Create Music Group, Spotter, Quibi, Kakao Entertainment and China Literature. |
| How many companies has Moonbug acquired? | Moonbug has acquired 5 companies, including One Animation, Little Angel, Blippi, CoComelon and Little Baby Bum. |
| What was the largest acquisition by Moonbug? | The $28M acquisition of Blippi in July 2020 is the largest acquisition Moonbug has made to date. |
See companies similar to Moonbug
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.