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The cofounder of MoviePass recounts what led to his firing from the company he'd built from the ground up

The cofounder of MoviePass recounts what led to his firing from the company he'd built from the ground up
Hollis Johnson/Business Insider



MoviePass cofounder Stacy Spikes breaks his silence about what led to his exit from the company.




Spikes told Business Insider that in January 2018, he was let go after months of disagreeing with the new owner of MoviePass, Helios and Matheson Analytics, about the $10 subscription price point.




Though it was giving the company thousands of new subscribers, Spikes felt it wasn't sustainable.




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MoviePass cofounder Stacy Spikes admits he was not a happy camper a few months after Helios and Matheson Analytics bought MoviePass in summer 2017. And it's likely a big reason why he was then let go in the new year.
Since 2005, Spikes had been building the scrappy startup into a revenue stream the US box office had never had before: movie-ticket subscription. The app was evolving with the times and slowly growing in popularity among moviegoers, with the price point ranging from $12 a month to up to $75 (which included access to 3D and IMAX showings).
But the moment when the company suddenly came into the popular lexicon, and grabbed the attention of the industry, was in 2017 when Helios and Matheson Analytics became interested in buying MoviePass.
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