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Online community theAsianparent raises Series C to add e-commerce and expand into new markets – TechCrunch

TheAsianparent, Southeast Asia’s largest on-line group and content material platform for moms with 23.5 million month-to-month lively customers, introduced in the present day that it has raised a Sequence C led by Fosun Group, the Chinese language conglomerate. The quantity was undisclosed, however an individual acquainted with the deal says it was between $10 million to $30 million. E-commerce big additionally participated, together with ATM Capital, Redbadge Pacific and returning buyers World Grand Leisure and WHG Holdings.

The brand new funding will likely be used on theAsianparent’s new e-commerce enterprise and its growth into new markets in Asia and Africa, focusing first on Nigeria, Kenya and South Africa. Roshni Mahtani, the founder and CEO of Tickled Media, theAsianparent’s writer, tells Internetit appears for international locations with excessive beginning charges however comparatively few on-line assets and communities for brand spanking new dad and mom. The positioning could have its personal branding for African markets and launch first in Nigeria with localized content material and a social community.

TheAsianparent, which at present has a group of 180 individuals throughout 12 international locations and is headquartered in Singapore, will concentrate on constructing its e-commerce enterprise in Asia markets first, particularly Indonesia, the Philippines and Singapore, with offering recommendation on issues like logistics. TheAsianparent will begin promoting merchandise by its web site and launch its personal direct-to-consumer model later this 12 months.

“The way I see it is that for media companies to be relevant, you need to have content, community and commerce, so that it becomes very easy for consumers to trust you for content and community, and also be able to buy products that you recommend and that have been created for their communities,” says Mahtani, who launched theAsianparent as a parenting weblog in 2009.

TheAsianparent’s cell app, which incorporates articles, group options and child growth trackers, launched in September 2018, has been put in 1.6 million occasions thus far. Mahtani says the theAsianparent had a site visitors development fee of about 70 % earlier than funding and expects it to extend by a a lot sooner fee now. It’s anticipated to make $10 million in income this 12 months and attain $100 million inside the subsequent 5 years.

In a ready assertion, Wilson Jin, the chairman of Fosun RZ Capital, mentioned “TheAsianparent, as the largest maternal and child community in Southeast Asia, has won the trust of young mothers in Southeast Asia and has a huge commercial space. In the past few years, theAsianparent has fully verified its business development and product evolution capabilities , it is an outstanding entrepreneurial team.”


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