Sports streaming service DAZN is reportedly seeking a $1 billion investment following the delay of its plans to go public. The company, which is owned by billionaire Len Blavatnik, had been planning an initial public offering (IPO) in 2020, but the coronavirus pandemic has caused the company to delay those plans.

DAZN, which was founded in 2016, is a streaming service that offers sports fans access to live and on-demand sports content. It is currently available in nine countries and has more than 10 million subscribers. The company has exclusive rights to stream sports content from leagues such as the NFL, NBA, MLB, and NHL in some countries.

The company is now reportedly looking for a $1 billion investment to help it grow and expand its services. According to reports, the company has already held discussions with potential investors and is looking to raise the money by the end of the year. The money would be used to help the company expand into new markets and acquire more sports rights.

The delay of DAZN’s IPO plans is not surprising given the current economic climate. The pandemic has caused many companies to delay or cancel their IPO plans as investors remain cautious about putting their money into the stock market.

It remains to be seen if DAZN will be able to secure the $1 billion investment it is reportedly seeking. If it does, it could help the company expand its services and become a major player in the streaming sports market. However, if it fails to secure the investment, it could be forced to delay its IPO plans even further.