Gojek streaming service GoPlay bags funding to deepen Indonesian focus
Summary
While many media startups in South-east Asia have tapped venture funding to chase regional growth, GoPlay plans to use the fresh capital to double down on Indonesia, its chief executive Edy Sulistyo told BT in an interview. "I think that media businesses need a very unique, specific set of investors to understand them... Its really just about separating the two so that there is an investment vehicle, and incentivising the (GoPlay) team so that they are very focused on that opportunity," Mr Goh said. "Golden Gate Ventures has been closely monitoring this space before Covid-19, but now with the lockdowns, its really accelerated our predictions of users wanting more localised mobile content," he said. Mr Lauria added: "The traditional media and cable television companies may produce local content, but its not being watched by 20-somethings and millennials; theres a huge opportunity to fill this. The local player knows the market, the customer and the content… The company also has a strong CEO, and many of the founding team members come from the media business," he said, noting that some GoPlay executives were previously from Amazon and Netflix.