The Rise of Mubi: From a Dream to a Billion-Dollar Venture

It all started on a New Year's Eve in Tokyo back in 2006. Efe Cakarel, a Turkish film enthusiast, found his search for Wong Kar Wai's 'In the Mood for Love' thwarted by empty video store shelves. Frustrated yet inspired, he envisioned a solution: a platform where indie film lovers could stream a curated selection of international masterpieces. With no formal film education but a sharp intellect honed at MIT and Stanford, Cakarel embarked on creating what would become Mubi.

Innovative Beginnings

Despite lacking industry connections, Cakarel dove into the tech side, coding the foundations of what would later evolve from 'The Auteurs' to Mubi in 2010. Investing all his savings into the venture, he developed a unique content delivery network that allowed Mubi to operate at a fraction of typical costs. Fast forward to today, and Mubi stands valued at $1 billion, threatening the dominance of indie cinema giants like A24.

Cannes and Beyond: Making Waves at the Film Festival

Currently making a splash at the Cannes Film Festival, Mubi premiered four films in competition this year, including Joachim Trier’s 'Sentimental Value' and Kelly Reichardt’s 'The Mastermind.' Cakarel's presence at Cannes isn’t just about glitz; he’s actively securing rights to high-profile projects, representing a significant evolution from niche streaming service to a fully-fledged film studio.

Transforming Culture: Cakarel's Vision for Moviegoing

Cakarel aims to reinvigorate cinema, promoting a culture that spans streaming, publishing, and art-house theaters. His goal is to cultivate a global community passionate about visionary, offbeat films often overlooked by mainstream studios. With 400 employees in 15 countries, Mubi recently celebrated the success of 'The Substance,' which grossed $83 million globally.

Future Expansion and Cautious Growth

Mubi is not only on a growth trajectory but also securing substantial backing, including a $100 million investment led by Sequoia Capital. As the number of subscribers surged from 100,000 in 2016 to 20 million today, Cakarel is considering taking Mubi public to further capitalize on its success.

Rugged Terrain: Challenges Can't Stop Cakarel's Passion

However, challenges persist. The post-COVID movie landscape is tough, and skepticism looms over the sustainability of such rapid growth. While Cakarel recognizes the precariousness of the industry, he remains grounded, focusing on long-term stability over short-term gains.

Beyond the Screen: Engaging with Cinema Culture

Mubi is more than a streaming platform; it's committed to reviving cinema culture. With initiatives like theatre openings in London and upcoming locations in Mexico City and Los Angeles, Cakarel fosters a multi-faceted approach to film appreciation, aiming to encourage audiences to experience movies on the big screen.

Community Building: A Unique Approach to Audience Engagement

What sets Mubi apart is its commitment to nurturing a strong community of cinephiles. By providing tailored content based on audience preferences and deep engagement, Mubi not only competes with powerhouse studios but does so with a passion for unique storytelling.

A Bright Future Amidst Challenges

Despite international uncertainties and economic upheavals, Cakarel maintains a clear vision for Mubi's future. He’s building a cultural skyscraper, not interested in quick profits but in creating lasting value for film enthusiasts worldwide. With a firm belief that Mubi is just at the beginning of an exciting journey, he’s all in for the long haul.