IFLIX raises $133m for developing markets
August 7, 2017
Iflix has raised $133m valuing the Asian streaming group at more than $600m. The two-year-old company streams in less developed markets across Asia, the Middle East and Africa and says it has doubled its customers, who pay a monthly $2-$3 subscription, in the past six months to around 5.1m.
Malaysia-based iflix is backed by Hearst, Sky UK and Liberty Global, each of which put up more in the latest funding round. EDBI, the corporate investment arm of the Singapore Economic Development Board, and private wealth clients of Singapore’s DBS also invested. With funds raised now totalling $220m so far this year, iflix plans to invest in more local and original content.