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Post by The Ultimate Nullifier on Aug 8, 2017 1:03:54 GMT -6
deadline.com/2017/08/tim-carter-joins-itvs-shiver-as-md-hearst-leads-133-million-investment-in-svod-service-i-flix-global-briefs-1202143789/Malaysian streaming service iFlix has raised $133M in its latest funding round, led by U.S. media group Hearst. This brings the total investment to-date in the SVOD company, which focusses on the emerging markets, to $303M. Additional new investors, according to iFlix, include Singapore-based EDBI and clients of DBS private bank. Existing shareholders Evolution Media, Sky PLC, Liberty Global, Jungle Ventures, Catcha Group and PLDT have all increased their investments. Launched in May 2015, iFlix has been expanding to 19 markets across Asia, the Middle East and Africa. This week, the service launched in Cambodia. “These new funds will allow us to further execute on our local content strategy and expand our technology and development teams so we can continue to rapidly evolve the iFlix service to meet the unique challenges of emerging markets,” said iFlix co-founder and CEO Mark Britt.
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