Terence Lee · · 1 min readIndonesian millennial-focused media firm raises series C funding
IDN Media, a multi-platform media company targeting millennials and the so-called “generation Z” in Indonesia, has raised an undisclosed sum in series C investment.
The funding round is led by EV Growth, a joint venture between East Ventures, Sinar Mas, and Yahoo Japan. Also investing were True Digital & Media Platform, a subsidiary of major Thai conglomerate CP Group; and Line Ventures, the corporate venture capital arm of messaging app Line.
IDN Media co-founders William Utomo (L) and Winston Utomo (R) / Photo credit: IDN Media
Started in Surabaya, Indonesia in June 2014 by brothers Winston and William Utomo, IDN Media operates sites including IDN Times, Popbela.com, Popmama.com, Yummy, IDN Creative, IDN Event, and IDN Creator Network. It has over 50 million monthly unique users across its platforms.
Most of those – 38.5 million – go to general news site IDN Times. Pop culture portal Popbela has 6.1 million users.
In its series B fundraising announcement in November 2017, the startup said it had reached 50 million monthly website visits across two portals, one billion monthly content views across all platforms, and 62 million monthly video views.
It was getting 13 million visits a month in September 2016.
Tech in Asia has reached out to IDN Media to ask for its most recent comparable numbers. It declined to reveal its financial data.
Editing by Jack Ellis
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