Tubi officially launched in Australia on 1 September 2019. According to their website, they "hope to relaunch in the UK and EU in the future" and is "working on compliance and is planning to re-launch in European countries soon". As of 15 July 2021, Tubi has yet to relaunch in the United Kingdom. It was later announced that Tubi would relaunch in the United Kingdom by early 2019. Tubi became inaccessible throughout the European Union as a result of the GDPR entering into force on. In April 2020, Fox Corporation acquired Tubi for $440 million Farhad Massoudi would remain at the company, which would continue as a separate subsidiary. On October 21, Tubi launched Tubi Kids, a dedicated hub for the streamer's children-centric content via Roku and supported devices. On September 25, Tubi became available on Vizio Smartcast.
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In February 2019, Tubi signed a distribution deal with NBCUniversal, which includes 400 TV episodes and films. In 2019, CEO Farhad Massoud announced Tubi would nearly double its 2018 spend on licensed content, close to US$100 million. Principal investors include Foundation Capital, Bobby Yazdani, Zod Nazem, SGH Capital, and Streamlined Ventures. Adrise, the company behind Tubi, has raised $4 million in capital. Mark Amin, former vice chair of Lionsgate, is an investor. Sandy Grushow, former Fox TV chair, is an advisory board member. In September 2020, the company reported 33 million monthly users. In June 2019, Tubi announced it had over 20 million active monthly users, and later in September, the company reported that users had streamed 132 million hours of content.
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In May 2017, they raised US$20 million in a round of funding from Jump Capital, Danhua Capital, Cota Capital, and Foundation Capital.
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Tubi was founded by Farhad Massoudi and Thomas Ahn Hicks of AdRise in San Francisco, launching in 2014 as a free service.