iflix, a Kuala Lumpur, Malaysia-based streaming TV service, received a US$45m investment from Sky plc.
Sky’s investment in iflix includes the purchase of $2.5m of shares from existing investors. The deal is part a partnership which will see the two companies to work together to identify areas of future collaboration across emerging markets in which iflix operates.
Led by co-founder and CEO Mark Britt, iflix launched in May 2015 and has already signed up over one million members. It aims to extend its service to new ASEAN markets in the coming months as demand for the service grows.
For a small monthly subscription, users in Malaysia, Thailand and the Philippines, have unlimited access to tens of thousands of hours of content from a library of Hollywood, Asian regional and local TV shows and movies.
They can watch the service on multiple connected mobile devices including tablets and smart phones.
FinSMEs
10/03/2016