Katadata completes second phase of funding
By Digital News Asia September 13, 2017
- Funds to be used to develop paid content services and data management systems
- Investors are Emerging Media Opportunity Fund I and financial analyst Lin Che Wei
KATADATA, an economics and business online media, data and research firm, has completed its second phase of funding, with investment from Emerging Media Opportunity Fund I, L.P. (EMOF) and Lin Che Wei, a leading financial analyst in Indonesia.
EMOF is managed by Media Development Investment Fund (MDIF), a not-for-profit, New York-based organisation that has provided US$163 million to help finance more than 100 independent media firms in 39 countries.
This undisclosed amount of additional investment funding will be used to develop paid content and to strengthen infrastructure and data management systems. The first phase of funding was made in 2014.
Katadata provides in-depth economic and business information, supported by data and analyses.
Katadata also presents economic and business content in a simple and interesting way, particularly through visual infographics and videos, to make it easier for the public to understand.
Since the establishment of Katadata in 2012, the news content and infographics published on its website katadata.co.id and databoks.co.id have become a reference for policy makers. And on several occasions, international media have used Katadata content as a news reference.
Katadata co-founder and CEO Metta Dharmasaputra said that this second phase of funding would be used to develop the business, especially to develop content and data for paying customers. Subscriber content will be launching soon.
The aim is that by developing paid products, Katadata can create more sustainable revenue streams. “Given Katadata’s current position, we believe this is a huge opportunity,” said Dharmasaputra.
MDIF Deputy CEO Mohamed Nanabhay, said that Katadata is a highly professional independent media that is providing a valuable service to anyone interested in the Indonesian economy and business. He added that Katadata has a clear mission to further develop quality content.
Mohamed Nanabhay said that this was in keeping with MDIF and EMOF’s mission, which is to provide financing and technical assistance to support independent media around the world.
Nanabhay explained that as well as funding, MDIF was committed to giving support to Katadata in the form of training for capacity building, in particular training in business development.
He hoped that Katadata would not only continue to establish itself as a leader in producing quality content, but also build a strong, thriving business.
“Katadata must have a strong business foundation from which to serve its audience,” said Nanabhay.
“That way, the business can grow sustainably and develop new products that provide reliable, quality news and information to a growing market.”
Lin praised Katadata’s rapid growth. Lin, who founded the company with three founders (Metta Dharmasaputra, Heri Susanto and Ade Wahyudi) contributes to the funding support together with MDIF.
He is confident that with continuous funding support, Katadata could become the top online economics and business media in Indonesia.
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