Vidio, the Indonesia-based video streaming platform developer backed by media conglomerate Emtek, has secured a $150m investment from private equity firm Affinity Equity Partners, Tech in Asia reported yesterday.
The deal marks Vidio’s first capital injection to come from outside Emtek’s umbrella and values the company at $900m post-money.
Founded in 2014, Vidio provides an on-demand streaming platform which incorporates entertainment, sport and user-generated content. It boasts more than 1 million videos, 2 million paid subscribers and 62 million monthly active users.
Proceeds from the investment will be used to expand Vidio’s original content production, help it obtain new sports licences and enhance its livestreaming with gamification capabilities. Emtek holds its stake in the company through its Surya Citra Media subsidiary.
The transaction represents Affinity’s second investment in the Southeast Asia technology sector and will give it a seat on Vidio’s board of directors.
