Mubi is turning into the feel-good story of the independent film business. ⁠ ⁠ Fresh off its awards season hit ‘The Substance,’ the art house streaming service/film distributor is raising $100 million from a consortium led by Sequoia Capital, three sources familiar tell Puck’s Hollywood partner, Matt Belloni. ⁠ ⁠ “If the deals close as expected, the round will value Mubi at more than $1 billion,” Matt reports. “Not bad for a niche streamer launched back in 2007 by C.E.O. Efe Cakarel, with the mission of connecting cinephiles to classic and auteur-driven films.”⁠ ⁠ Read Matt’s full dispatch, at the link in bio.⁠ ⁠ Photo courtesy of Mubi⁠ ⁠ #Mubi #TheSubstance #DemiMoore #Hollywood #Entertainment⁠ ⁠ 👉 Hitting our paywall? Type in promo code SOCIAL at checkout for 20 percent off your Puck subscription for a limited time.