GoPlay Video on Demand Platform Earn Investments Independently (UPDATED)

GoPlay, platforms video on-demand from Gojek today (8/6) announced the closure of its inaugural funding round with an undisclosed amount. This funding is independent, meaning that investment is channeled specifically to the company, not through the parent company.

This external funding is the first to be announced by a group business unit Gojek. The concept goes into definition spin-off, but GoPlay CEO Edy Sulistyo told DailySocial ensure that GoPlay will remain part of the ecosystem Gojek overall.

Edy explained each business unit Gojek with different models, they must have different business licenses because they have to comply with the regulations that apply in Indonesia.

“PT itself [GoPlay] has existed since its inception because it has a different license. [..] [Nevertheless] we are always in the ecosystem Gojek,” he said, Monday (8/6).

The funding round was led by ZWC Partners and Golden Gate Ventures. Other investors involved are Openspace Ventures, Ideosource Entertainment, and Redbage Pacific.

Edy said that the capital funds obtained will be focused on developing GoPlay technology so that more and more users can reach more users in Indonesia. Content creators are also expected to be able to take advantage of GoPlay to distribute their work to more people.

He further said that Indonesian content creators need more platforms to be able to showcase their talents and works. At the same time, more and more Indonesian mobile users want access to more local content quickly and easily.

This huge potential has yet to be answered by the cinema industry and he strives to close the gap between the need and availability of quality content through technology.

“We are proud that investors can see the mission that GoPlay is trying to achieve. We've been working hard to build on technology and improve GoPlay's features over the past year. So, now is the time to embrace the businesses who have deep expertise in the industry to spur our growth," he said separately in an official statement.

A number of investors who participated in this round also delivered their statements on this occasion. ZWC Partners Founding & Managing Partner Patrick Cheung said, “We are very pleased that Gojek and GoPlay take into account the added value that ZWC Partners can provide in the development of GoPlay, namely our resources, network, and knowledge and experience in the Chinese market.”

CEO Ideosource Entertainment (NFCX subsidiary) Andi Boediman added, “Seeing the growth and demand for streaming content today, we believe that the Indonesian content market has the potential to reach $1 billion in the next three years.”

For the record, Ideosource Entertainment and GoPlay, through GoStudio, have collaborated several times to create content for the big screen.

Since it was first released in September 2019, it is claimed that GoPlay has been reached by hundreds of thousands of cellphone users within and outside the ecosystem. Gojek. This platform has provided consumers with exclusive access to hundreds of locally produced films and series.

Currently GoPlay has developed its technology with the Cast feature from applications to television using Chromecast for Android and AirPlay for Apple devices.

Update: we rewrite about the concept spin-off between GoPlay and Gojek