In exciting news from the start-up sector, MangoBaaz – a popular online platform known for generating digital content for the younger niche of audience, has raised an investment of $115,000 in seed funding. The investment has been provided by Fatima Ventures, a subordinate of the Fatima Group.
MangoBaaz is an online platform that generates original digital content for the young audience of Pakistan. The company’s goal is to create and publish the most exciting digital contents and stories relevant to the millennial audience. It is Pakistan’s first media house that focuses on creating digital content for its young audience, similar to companies like BuzzFeed in the United States and ScoopWhoop in India.
MangoBaaz was launched back in August 2015 by two young co-founders Ali Ahsan and Ali Gul. They left their well-paying jobs in the US and ended up working full-time for MangoBaaz. With assistance from PlanX, one of Pakistan’s largest tech incubators, MangoBaaz has reached a user base of over 1 million at its website within just the first year following its start-up. Since then, MangoBaaz has been making rapid progress, continuously increasing the audience size by leveraging an expanded platform.
A business without a funding source will flicker and die under the weight of its own debt. Funding is the power on which a business operates. A startup can take different paths to secure seed funding, and more than one option can be exercised. MangoBaaz has successfully made its mark in the industry with $115,000 of investment led by Fatima Ventures. MangoBaaz, thus, has now become the country’s first emerging media startup which is backed by a leading venture capital firm that invests in disruptive technology and startups.
Ali Ahsan, the company’s co-founder, said in a statement:
“The investment means that one of Pakistan’s leading venture capital firms evaluated MangoBaaz, on all business matters and identified it as an attractive investment option which serves as a tremendous validation of the authenticity of our business model.”
Ali Gul, who is also a co-founder of MangoBaaz, added:
“This investment enables us to update our current offerings, scale video operations and invest in more business plans that will help MangoBaaz diversify its services to both its consumers and industry partners.”
From the team at PakWired, we congratulate MangoBaaz over the huge achievement.
Photo credit: PlanX.PITB / facebook
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