Millennial and Gen Z-focused Media Company, IDN Media, Secured a Series B Investment, from East Ventures and Central Exchange
20 Nov 17 | 17:45
IDN Media, Indonesia's leading digital media company for Millennials and Gen Z, has secured a Series B investment from a group of investment firms. This undisclosed amount of capital raise was led by East Ventures and joined by Central Exchande, a venture capital based in Hong Kong. The raise in capital will allow IDN Media to speed up the growth of its audience and to improve all of its products and technology to achieve its goal of becoming the voice of Millennials and Gen Z.
In 2017, IDN Media has risen to become the leading digital media for Millennials and Gen-Z in Indonesia (based on comScore Composition Index Unique Visitors for 18-24 and 18-34 years old). IDN Media has also generated 50 million monthly website visits across two portals, 1 billion monthly content views across all platforms, and 62 million monthly video views.
With a 140 team-member strong, IDN Media now operates IDN Times (News & Entertainment Portal), Popbela.com (Female-focused Portal), Yummy (Food-focused Media), NOW (News Video Portal), IDN TV (Video Production House), IDN Creative (Digital Agency), IDN Event (Event Agency), and IDN Creator Network (Creator Marketing Agency). It will also launch a new portal focusing on Millennial Mama called Popmama.com by the end of the year.
Winston Utomo, Founder and CEO of IDN Media, said, “The IDN Media we see and experience today has only scratched the surface of our vision. We are very excited with the series B investment and working with the new partner, as it allows us to move closer to our goal: to become the voice of Millennials and Gen Z. In addition, with the raise in capital, we will focus on our mission to build a better 360 multi-platform media company for Millennials and Gen Z.”
In brand partnerships, IDN Media has worked together with more than 150 brands such as L’Oreal, Unilever, Procter & Gamble, Djarum, Tokopedia, Samsung, Traveloka, and many more in creating breakthrough 360 online-to-offline advertising campaigns utilizing ad products such as native editorial, native video, targeted KOL endorsement, native video, integrated social posts, Facebook Live Poll, Millennial-focused events, and more.
William Utomo, Founder and COO of IDN Media, said, “For the past year, we have been growing our product lines, strengthening our content creation, building deep relationship with brands & advertisers, and ramping up our hiring of the best talent in the industry to prepare the company for rapid growth. We are very excited and grateful because the rapid growth in audience are followed by strong partnerships with brands, resulting in significant growth in revenue and profitability.”
Moving forward, IDN Media will continue to bolster the editorial team by launching local edition and newsroom in 10 cities in Indonesia, establishing several new vertical media, growing its loyal community base, and increasing the investment in original content. It will also focus on improving its product offerings and cutting-edge technology, both for the readers and the brand advertising partners.
Willson Cuaca, Co-Founder and Managing Partner at East Ventures, said, “IDN Media’s strategy to focus solely on Millennials and Gen Z has proven to be working very well. Not only that they have reached a massive and loyal audience, but they also have built strong business fundamentals with significant growth in the revenue, resulting in profitable quarters. We are pleased to lead this investment and to work together with the new partner.”
Billy So, Chairman at Central Exchange, said, “In such a short period, IDN Media has built an exceptional media company that combines data-driven content and sophisticated technology. In addition to the solid team, good culture, and strong operations, we believe in both Winston and William Utomo’s vision to build IDN Media to become the biggest multi-platform media company for Millennials and Gen Z.”