Myanmar Online Creations (MOC), which is focused on creating localised online content and tools, has raised a six-digit Series A investment to enter into publishing up to 10 local content apps by 2017.
Investors who participated in the round include local players Trust Venture Partners, a Yangon based financial advisory firm, and Thaung Su Nyein, CEO of Information Matrix, parent company of 7Day News Journal. The company is also in advanced talks with a seasoned investor in dot-com companies as part of the Series A round.
The team of MOC is led by Win Ohn, also the CEO and president at Canada-based MediaNation. He has extensive experiences in advertising and online marketing in the U.S. and Canada. Ohn was previously in-charge of women’s blog curator Sheblogs and one of the principal shareholders of Yocto Media Group, both under MediaNation.
“We are really excited to see the growth of Internet and technology in Myanmar and very exited to be part of this growth. I think that is very important and is a very exiting time for any of us in the space, to be involved in a lot of growth in the future ahead,” said Ohn founder and CEO of Myanmar Online Creations.
“We want to be the largest provider of local content,” he said, during an interaction with DEALSTREETASIA.
The Series A investment of MOC came slightly over three months after they launched their new applications and websites in February 2017.
Onlyinburma.com, only-in-Burmese content, is positioned to be a destination point for locals in Yangon. Lolburma.com is a social media content platform which allows uploading of content like a three-month-old Youtube.
Another goes to Langyaung.com (pronounced in Myanmar as Route), a kind of business yellow page which will include accurate GPS mapping for all local business. “One of the things that we’ve been priding ourselves with Langyaung.com is, all the business that we have, we hand verified it,” said Ohn.
The first three apps for android and its web pages were followed by a dating site, Phoosar.com this April, allegory of a serious dating site. The site also will be the first platform of MOC to see a revenue steam after providing a one-month free signup.
Payment for the monthly subscription of their dating site, forwards to another of their dot-com product, ezdin-gar.com, which translates to easy money in Myanmar language. The billing payment system is based on QR codes.
All five apps are up and running, with a more grass root marketing soon to be seen speeding up.
More products of MOC are in the pipeline covering a number of verticals across the three major categories: information, tools & services and social media.
“We are very aggressive in launching new products. We are planning to launch four to five new products/apps this summer,” said Ohn. By 2017, they’re looking to launch somewhere up to 10 apps and even to look broader in 2018.
“For 2018, we’re looking at bigger, infrastructure-based projects,” he said.
With Ohn leading several dot com companies in Canada and U.S. MOC is able to leverage a lot of its the infrastructure and technology developed out of MediaNation, bolstered with localized content, administration and marketing from Yangon.
“We are looking to expand in 2018, to actually have all our development to come out of Yangon,” he said.
Myanmar’s data consumption is seen to accelerate since the international telecom operators’ entering in 2014. All three telecom operators _ Telenor, Ooredoo and MPT are able to provide 4G services in certain areas while the Ministry of Transport and Communications have made efforts to leverage solutions provided by international satellite firms to help strengthen coverage across rural areas.
Figures as of mid 2016 show that 80 percent of one of the operators, Ooredoo’s then, 8.2 million subscribes are already using data.
MOC looks to fill in the space of more locals spending more of the data they use on local content, which is not seen happening at present.
Targeting all ages, tech savvy and non tech savvy, they’re trying to make their apps perform everything within three swipes. “A big part of that is bring new dot com technology in Burmese language,” he said.
Prior to the Series A, MOC got a six-digit seed funding in September 2016 from investors involved in the Internet/logistics space.