IDN Media Secures a Series-C Investment In a Mission to Become the Voice of Millennials and Gen Z
8 Jan 19 | 08:00
JAKARTA, 8 January 2019 --- IDN Media, the leading multi-platform media company for Millennials and Gen Z in Indonesia, today secures a Series-C investment round led by EV Growth (a joint venture of East Ventures, Sinar Mas, and Yahoo! Japan), with participation from True Digital & Media Platform (a Charoen Pokphand’s company) and LINE Ventures (the corporate venture arm of LINE Corporation).
Founded in Surabaya, Indonesia on 8 June 2014 by brothers Winston Utomo and William Utomo, IDN Media envisions to democratize access to accurate, balanced, useful, and positive information and ultimately, to become the voice of Millennials and Gen-Z in Indonesia and to bring positive impacts on the society. As of today, IDN Media operates IDN Times, Popbela.com, Popmama.com, Yummy, IDN Creative, IDN Event, and IDN Creator Network, with over 50 million monthly unique users in its platforms.
This Series-C investment will allow IDN Media to accelerate the growth of its readers through the nationwide hyperlocal strategy, to advance its product offerings and technology, and to explore strategic partnerships and acquisitions.
Winston Utomo, Founder and CEO at IDN Media: “This is just the beginning. The IDN Media we see today has only scratched the surface of our long-term vision. While this Series-C investment an important milestone in our journey, the mission to become the voice of Millennials and Gen Z is always a work in progress. We will keep working very hard to become a company that brings positive impacts on the society.”
William Utomo, Founder and COO at IDN Media: “For the past year, we have been growing very rapidly, primarily driven by our amazing team at IDN Media. In terms of business, in the past 12 months, we have worked closely with more than 200 brands to help grow their business by connecting them with our audience, which is primarily Millennials and Gen Z. Moving forward, we are striving to keep improving our product and technology offerings to help connect more brands to our audience, and ultimately to help them grow their business. 2019 will be a very exciting year for us.”
Willson Cuaca, Managing Partner at EV Growth: “I always knew that IDN Media will become very big since the first day I met brothers Winston Utomo and William Utomo. They are not only visionaries, but also very strong in the execution and operations. They have a huge and loyal user base, and more importantly, they have created a healthy and sustainable business, resulting in significant growth in revenue and profitability in the last several quarters. This is a very impressive feat for a startup company. While this is a big milestone for IDN Media, I believe that the best is yet to come.”
Kay Lim, Head of LINE Ventures: “We are very pleased with this investment. In such a short period, IDN Media has built a leading digital media company for Millennials and Gen Z in Indonesia, with strong founders and team as well as warm and positive culture. We truly believe that together with LINE and other partners, IDN Media can revolutionize the media industry and become the biggest digital media in the region.”