10:18 (GMT +7) - Friday 13/12/2019

Business

Pops Worldwide secures $30mn in investment round

Released at: 16:54, 08/11/2019

Pops Worldwide secures $30mn in investment round

Photo: Pops

Locally-headquartered digital entertainment company raises capital in investment round led by Eastbridge Partners and Mirae Asset-Naver Asia Growth Fund.

by Phi Linh

Southeast Asian digital entertainment company Pops Worldwide has raised $30 million in an investment round led by independent private equity firm Eastbridge Partners and Mirae Asset-Naver Asia Growth Fund, a joint initiative between Mirae Asset Financial Group and Naver Corporation.

The two leading investors will have a significant minority stake in the Vietnam-headquartered company, according to Techinasia on November 7. Pops also announced the launch of Pops App in Vietnam on the same day in Ho Chi Minh City, where users can stream free content such as original series and shows, as well as other videos for music, entertainment, and children.

The new over-the-top service will compete with Southeast Asia-focused Iflix and the US-based Netflix.

Pops plans to use the new funds to scale Pops App across the region and venture out to new markets, according to Founder and CEO Esther Nguyen. The company looks to produce more original series and shows and feature more “premium stories from global studios” for its new app.

“We believe in the sustainable competitiveness of Pops after their great success over the last ten years in digital entertainment in Vietnam and Thailand,” said Mr. Ji-Kwang Chung, Managing Director of Mirae Asset Capital. “We share their belief that Pops’ opportunities in the region are enormous, and we look forward to seeing their efforts to achieve even greater success.”

Founded in 2008, Pops claims to have the largest library of original, local, and international video content, with more than 620,000 digital content assets. It has hundreds of artists, content creators, and partners in broadcast television, publishing, and production on its network.

The company produces a wide variety of original content for channels such as Pops Music, Pops Kids, Pops TV, Beauty Me, HerVoice, and CoolTV. It claims to have 162 million subscribers and 3.5 billion monthly views.

User comment (0)

Send comment