On-demand video platform Migo on Monday announced that it closed a Series B2 funding round to further expand in Indonesia. Among the various investors participating are Gojek’s commissioners Ray Zage and Pandu Sjahrir, Youtube’s co-founder and former CTO Steve Chen, as well as Provident Capital. Existing backers, including members from the founding family of Hysan Development in Hong Kong, Vickers Venture Partners, and Singaporean businessman Koh Boon Hwee, also took part in this round.
Migo was founded by American entrepreneur Barrett Comiskey who came up with the concept in 2010. The service is focusing on the 70% mass-market consumers who don’t have access to broadband. Its “videos-to-go” can be watched offline with zero buffering after downloading them from neighborhood shop partners, locally known as warungs.
Between 2016 to 2018, Migo raised its Series B1 round led by Temasek and released trials to more than 50,000 paying users in the Philippines. The firm launched its product in Indonesia in March and transitioned to a 100% paid service in June, according to the company.
The Migo app is currently available for Android users. With the app, users need to go to the nearest wargo (warung Migo) where they can download content in as quickly as two minutes. After purchasing a Migo Unli Pass they can unlock the videos. Migo offers 1-day, 3-day, 7-day, and 30-day packages that cost between IDR 3,000 (USD 0,20) and IDR 30,000 (USD 2).
Micro, small, and medium enterprises (MSMEs) can participate in the digital content economy and become Migo Unli Pass retailers. They earn income by renting their space to host Migo’s hardware, and receive a share of Migo revenues.