A digital media startup called MangoBazz at Punjab Information Technology Board’s PlanX accelerator has managed to secure seed funding worth $115,000 from Fatima Ventures.
MangoBazz aims to create genuine digital content for its millennial audience that is fun to read and watch. You can consider it the “BuzzFeed” for Pakistan.
A Million Smiles!
Within just a year, MangoBaaz has reached over a million monthly active users on its website alone, with video content audience increasing at an even faster pace.
Co-founder Ali Ahsan said this investment means that one of Pakistan’s largest companies analyzed MangoBaaz, on all business aspects and identified it as an attractive investment opportunity which serves as a significant validation of the company’s business model.
Furthermore, Ali Gul, Co-founder of MangoBaaz added, this investment will profoundly impact the startup as it will allow us to expand our existing operations, scale the business and invest in more business initiatives that will diversify the services offered by MangoBaaz to both its audience and business partners.
The people behind this initial success of MangoBaaz wants to take it global very soon, with an aim to promote the positive side of Pakistan.