Makeus, a Multi Channel Network startup has successfully secured the largest Korean investment into MCN (Multi Channel Network) in recent news. The investment totaling US$17.4 (KRW 20b) has been provided by venture capital companies DSC Investment, KTB Network, Capstone Partners and Stonebridge Capital secures US$17.4 m.
With the rising trend towards new media, MCN companies have been attracting great interest from investment companies. Of the recent investments into similar companies, this is the most significant in terms of investment amount. Other MCN companies that have received investments include Treasure Hunter, Kongdoo Company, Video Village and Sandbox Network.
In the case of Treasure Hunter a recent investment from SK Telecom and DSC Investment of US$7.8m (KRW 9b) combined with earlier investments from Four-Thirty and other Korean venture capitals for an amount of US $5.8m (KRW6.7b) brings their total recent investment amount to US$13.6m (KRW 15.7b).
Investments into other companies include: K Cube Ventures US$1.7m (KRW 2b) into Kongdoo Company; Video Village securing US$500k (KRW 600m); and Sandbox Network securing US$860k (KRW 1b).
Jung Sang Yeop, the media market team leader at Capstone Partner explained the trend in media, “The media and content business is at a final crossing point of transitioning from raditional contents such as print media and terrestrial cable tv into modern forms like internet mobile, social network services. The company has the capabilities for optimizing contents for the new media environment and the technology for its effective distrubution. Makeus creates content that is fresh and creative through the PDs and with more than 30 million people viewers we are hopeful of greater growth from this company”.
Han Tae Hoon the Managing Director of DSC Investments commented, “The trend in content viewing has switched to mobile, social network services and new media. Makeus in this emerging environment has rapidly gained a great market share. With their capabilities in content production and distribution we see a much greater potential for expansion. This is the reason for our investment.”
Woo Sang Bum from Makeus commented, “We will use this investment to secure a greater market share in mobile broadcasting in Korea and Asia. Other areas for development with the investment include increasing video content capabilities, creating a digital content studio and securing leading content developers.”
Currently, through Facebook, Youtube and Kakao Story, the company has over 25 million subscribers. Their popular channels include Il-So-Ra (Korean for voice of everyday people), Snack Video and comedy channel Sae-Ut-Dong. Recently the company introduced their Facebook multi – channel brand called Dingo.
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