The startup has earlier secured funding from investors, including the Dato’ KS Pua, Axiata Digital Innovation Fund, Golden Gate Ventures, TMI Holdings and Segnel Ventures.
Soft-launched almost a year ago, Spot News strives to provide, package and curate content that is localised for people in multi-lingual, multi-cultural Southeast Asia. Designed for lean back mediums, the platform allows users to select, customise by genre, discuss and share their preferred news source in their native language.
For advertisers, Spot News is able to accurately profile its readers based on demographics and frequency of use. This is a huge advantage as clients are able use this data to determine the best strategy and ad spend to reach their target audience.
Generating its revenue from digital ad spend, Spot News has a monthly user growth rate of 30 per cent. As of today, 190,000 users regionally use Spot News monthly, claims the company.
Currently, Spot News claims to have 400,000 downloads and its users consume over 100 million page views a month.
Azrul Reza, COO of Marna Capital, said: “People today are more proactive when it comes to deciding what they read and what they do with that information. Having quick access to local news that’s relevant, in your native language with the ability to discuss and share latest issues is invaluable. Spot News enables this.”
Started in 2012, Marna invests in areas such as media & entertainment, ICT, hospitality & wellness and healthcare. The VC fund is backed by prominent figures such as SM Nasarudin and SM Nasimuddin of the Naza Group.