iFlix raises $133m from US entity Hearst

Lahore: In a latest round of valuation iFlix ,a Malaysia based startup and streaming service provider much in the ilk of Netflix has raised $133m in fresh investment to expand its operations in emerging markets.

The company started its operations in May 2015 and has expanded to several Asian and African countries including Pakistan last year, available at a subscription fee of $3 a month.

This latest $133m investment comes from US company Hearst which has invested in Buzzfeed and Roku previously. This latest investment raises the company’s valuation over $500m and is said to have doubled its subscriber base to 5.1m users during last six months.

Before this, iFlix had raised $300m from various investors over the last two years.

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