29 May 2020
Taiwan Based Live Streaming Company M-17 Raises $26.5 M Funding
Techugo Pvt. Ltd.
Live streaming video has the potential to gain traction and attention of those who are always on a lookout for new and innovative ways of delivering content. When we think of this service, then we realize different ways to broadcast live-videos in real-time, to people over the internet.
It opens a floodgate, where you can broadcast anything across the world without delay or edit.
Some of the most popular live-streaming tools like Facebook Live, Instagram Live, YouTube Live, and M17 are making it easy for anyone to broadcast live video to the world.
Live-streaming portal’s value amid COVID-19
The global crisis has forced people to stay home and don’t step out. Also, events have been canceled, and people working from home and separated from loved ones. Such tumultuous situations can lead to mental stress; here live-streaming portal helps users to deal with the situation.
17 media- a live streaming company is creating a difference!
17 Media is a live streaming app and social networking platform. This platform allows a celebrity, an expert, an internet sensation, or just an amateur artist, to stream live film from their own show. Also, they can share their daily life with global viewers who can access, share, and interact with the content in real-time.
As of now, 17 Media’s global users have exceeded 42 million and they produce 10,000 hours of content every day.
17 Media has crafted a new way of real-time media for the new generation, where every live stream artist has a unique stage to share their talents, creative ideas, food, travel, or makeup tutorials anytime, anywhere.
Surprisingly 17 Media took just 248 days to exceed 10 million downloads, becoming one of the top apps in the US, Hong Kong, and Indonesia. And in one of the most surprising fact here suggests, that it has more than one million daily active users.
M17 has raised US$26.5 Million
Taiwan-based live-streaming startup M17 Entertainment Limited has announced securing US$26.5 million in a Series D funding. This funding round is led by Vertex Growth Fund and has received the participation from Stonebridge Korea Unicorn Venture Fund, InnoVen Capital Singapore, Kaga Electronics Co. Ltd, and ASE Global Group in New York.
How this funding will help M17?
With the help of this latest funding will trigger M17’s continued growth in Japan as well. And this expansion will elevate in the U.S. and the Middle East.
What more you should know about M17?
M17 was founded in the year 2015, as a live streaming app and social networking platform. In the short tenure, this very platform has secured to have over 40 million global users, who produce 300,000 hours of content every month.
Today M17 Entertainment claims to cover 60% market share by revenue in both Japan and Taiwan.
Although, after a few glitches in the startup, finally, in the year August 2019, the startup claimed to become profitable again with 70% year-on-year growth. And had generated approximately $323 million.
What makes M17 unique?
In the past few months, M17 has witnessed a record high of artists and user onboardings. With M17, users get a virtual stage to unleash the number of possibilities to explore what is possible both artistically and financially. Further, they can flaunt their talent and interact directly with their fans in real-time.
As per a study by Frost and Sullivan, the live video streaming market in Asia is going to grow to $3.3 billion by 2022. And in this run, Japan shall see the rise of the largest size of $1.1 billion.
As stated by the Vertex Ventures Managing Director Tam Hock Chuan, “We are impressed by M17’s market-leading position and continued strong growth in Japan, Taiwan, and Hong Kong. With M17’s unique value proposition and battle-hardened management team, the company is well prepared for its next phase of growth.”
On-demand video sector is booming
As customers are shifting towards the individualized on-demand viewing platform, M17 is aiding users to get a robust, financially viable platform for artists. Further, with this very platform, it has become easier for users to accelerate the shift towards building a digital economy.
Why this funding matter?
In the current scenario, when startups are facing the challenges of survival, M17 has raised funding. As investors are putting their confidence in M17’s capabilities and strong growth potential.
M17 is committed to offering the best social interaction solutions to artists and incredible online entertainment to the audiences right in their own homes.
17 media is focusing more on live-streaming business
17 Media has established an engaging presence in the media market, offering direct audio and streaming content for a new generation. However, to run its business operations with a focus. M17 Entertainment has also sold its online dating assets. The dating app Paktor and other services were finally acquired by Kollective Ventures. This is done by a venture capital advisory firm, but yet the value of the deal is not revealed.
Indeed, live streaming is a social media trend that is most popular amid coronavirus, and should not be overlooked. You can get the most out of this powerful video marketing tool and offer real-time content to offer an interactive and appealing platform to your users.
Are you ready to boost your leads and convert them into customers and followers?
Get in touch Techugo to access leading mobile app development services during this global crisis.
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