Trading platform Pipe acquires Purely Capital
Pipe, creator of the world’s first trading platform for recurring revenues, recently announced that it has acquired Purely Capital, a media and entertainment financing company, and is launching a new Media & Entertainment division on the platform.
This new division will help producers, rights owners, and distributors drive immediate up-front revenue from their long-term licensing contracts from investment-grade streaming services and broadcasters, including Amazon, Netflix, and Disney.
The acquisition is a further step in Pipe’s mission to be the trading platform for any company with recurring revenues—regardless of industry—that’s looking to fund its growth on its own terms, without restrictive debt or dilution.
Wayne Marc Godfrey, the Founder and CEO of Purely Capital, has assumed the role of General Manager of Pipe’s Media & Entertainment Division and has been joined by Co-founder Dan Abrams and the rest of the Purely team who will help operate the new division.
Wayne is a leading expert in entertainment financing and rights acquisition as well as a prolific film producer. Purely originated the purchases of over 250 titles from its customers, representing over $45 million in revenues. As part of Pipe, Wayne and his team can now further accelerate the business by connecting producers directly with Pipe’s institutional investors on the platform, with the capacity to now fund billions of dollars in revenues.
“Pipe has built the capital markets engine to connect recurring revenue-generating assets to institutional investors seeking yield,” said Harry Hurst, Co-founder, and Co-CEO, Pipe.
“We are excited to announce the acquisition of one of the leading originators of these assets, Purely Capital. We met Wayne and his team a little over a year ago and have watched the incredible job they have done scaling their business with limited resources. Now, operating under the Pipe platform, we’re confident we’ll be able to continue to tap into this $250 billion/year market and provide a host of financing solutions and a truly category-defining service for the creatives and rights owners that make up this exciting market.”
Wayne Marc Godfrey comments: “I am honored to be joining the Pipe team to empower media and entertainment companies to seize control of their long-dated revenues, accelerate the growth of their business, and stretch the boundaries of their creativity.”
“I’ve been passionate about finding new ways to help creators with their entertainment financing needs and long believed that the access to financing needed an overhaul in order to turbo-charge creators. Technology is the best solution for this. It drives nearly every other aspect of the entertainment industry, from how content is produced, to how it is distributed and consumed, and it only makes sense to bring finance into the digital age through the incredible platform that Pipe has built.”