In 2011, two entrepreneurs, Stacy Spikes (Spikes) and Hamlet Watt (Watt), co-founded a subscription-based movie ticketing entertainment company, MoviePass, Inc. The company was based out of New York, US. The founders raised US$ 4.7 million from True Ventures, AOL Ventures, Lambert Media, and Moxie Pictures as capital for their business.
In June 2011, MoviePass announced the launch of a beta trial version of its subscription-based movie service through a press release. The locations for the beta trials were finalized at 21 movie theaters around the Bay Area in San Francisco where seven out of 21 theaters were owned by the AMC Theaters (AMC) chain in the US, and a few were owned by Landmark..
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