Khmerload, a Cambodia-based Buzzfeedesque news portal, has raised US$200,000 from 500 Startups, putting its valuation at an undisclosed 7-digit figure.
The newly-raised capital will help to fund Khmerload’s expansion into its two neighbouring markets Vietnam and Laos.
Khaliee Ng, the managing partner of 500 Startups’ Southeast Asian chapter, told Voice of America that Khmerload’s ability to scale its market share and profitability on a lean budget made it an attractive investment.
Launched five years ago, Khmerload delivers entertainment and tabloid news (with a focus on virality), as well as informative content such as educational materials and tech news. It is incorporated in Singapore as Mediaload.
Driven by the growth of smartphone adoption, Myanmar now has over 5 million active internet users, according to 500 Startups. This has enabled Khmerload to generate 17 million page views per month. It has over two million followers on Facebook.
Khmerload has also expanded into Myanmar last year, setting up a sister site called Myanmarload. It currently logs about 20 million page views per month.
It has also launched a pilot in Indonesia.
Image Credit: Khmerload
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