Khmerload.com site to receive Silicon Valley funding.
Posted: Sun Apr 02, 2017 9:03 am
PHNOM PENH — A Cambodian entertainment news website modeled on U.S. media giant Buzzfeed is set to receive funding from a major Silicon Valley investor, the first time a local start-up has benefited from such backing.
Khmerload launched five years ago, producing viral hits that swept social media, and has now secured a $200,000 investment from 500 Startups, a global venture capital seed fund based in California.
In Vichet, Khmerload’s founder and CEO, said the funding had put the value of the company over $1 million.
The tech entrepreneur said in addition to a strong team and product, he had to show investors the website, khmerload.com, was scalable and could produce a return on the investment.
“So we showed them that we are in the top three websites in Cambodia. We also have traction in Myanmar, where we recently expanded. So they see that we have done a lot while already generating revenue. Some Silicon Valley investors even invest in startups that do not generate income, but in our case we were already making money, so they saw our potential.”...
http://www.voacambodia.com/a/cambodia-b ... 78905.html
Khmerload launched five years ago, producing viral hits that swept social media, and has now secured a $200,000 investment from 500 Startups, a global venture capital seed fund based in California.
In Vichet, Khmerload’s founder and CEO, said the funding had put the value of the company over $1 million.
The tech entrepreneur said in addition to a strong team and product, he had to show investors the website, khmerload.com, was scalable and could produce a return on the investment.
“So we showed them that we are in the top three websites in Cambodia. We also have traction in Myanmar, where we recently expanded. So they see that we have done a lot while already generating revenue. Some Silicon Valley investors even invest in startups that do not generate income, but in our case we were already making money, so they saw our potential.”...
http://www.voacambodia.com/a/cambodia-b ... 78905.html