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Miguel Cordon · · 1 min readThai online media platform Ookbee secures Tencent backing
Thai online media platform Ookbee said it raised an undisclosed amount of funding as it looks to extend its reach to more markets in Southeast Asia.
More funding details
- Investors: Tencent and Sumitomo Corporation Equity Asia
- Investment type: Convertible bond subscription
- Stage: Unspecified
More company updates
- The company said its expansion plans come after it reached 11 million monthly active users and 3 billion monthly page views in total. It is currently present in Indonesia through its storytelling and social platform, Joylada, which has over 1 million registered users.
- Ookbee has kept the investment round open for follow-on investors until the end of the year.
- The company’s CEO, Natavudh Pungcharoenpong, said the funding will also be used to boost user acquisition across Ookbee’s existing platforms, improve its AI capabilities, develop new products, and gain more intellectual property rights.
- Ookbee had partnered with Tencent in 2017 for Ookbee U, investing US$19 million into the Thailand-based startup in the process.
For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.
Editing by Collin Furtado and Jaclyn Tiu
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