IDN Media, a media group company focusing on millennial and Gen Z, announces unspecified amount of Series B funding from East Ventures and Central Exchange. The latter is a Hong Kong Based venture capital company. Using this funding, IDN Media will expand its business into more cities and new vertical.
Founded in 2014 by Winston Utomo and William Utomo, IDN Media currently have 140 team members. They claims to have reached over 1 billion views for all platforms and 62 million views for video channels every month. They currently operate 8 different verticals and will launch a new media vertical for “millennial mama” called Popmama at the end of this year.
In its release, IDN Media’s Co-Founder and CEO, Winston Utomo, said, “IDN Media that we see and feel today is merely the surface of our vision. We are very pleased with this [result] B Series funding and working with new partners, as it will get us closer to our main goal: to be the millennial and Gen Z voice. Using this funding, we will focus on our mission to build a 360 multi-platform media company for millennial and Gen Z.”
Utomo told DailySocial, “We will launch local content to 10 cities in Indonesia and build some media verticals [in addition to Popmama] with further invest to create original content.”
Related to this funding, East Venture’s Co-Founder and Managing Partner Willson Cuaca commented, “They have built strong business fundamentals with significant revenue growth, which generate profitable quarters. We are very pleased to lead this round with new partner.”
Original article is in Indonesian, translated by Kristin Siagian