ISLAMABAD: The RINSTRA Pakistan’s first digital platform for content creators has received a valuation of $20 million with the potential to become one of the fastest growing companies in the digital world.
According to the data released by the company here on Thursday, the RINSTRA has been valued at US$20 million on the basis of project industry trends in valuation of similar businesses in emerging and frontier markets.
The RINSTRA has emerged as one of the most attractive initiatives in Pakistan in the MediaTech scene in the country.
While all other applications and platforms are offering simple streaming of the news and entertainment channels with a few offering Videos on Demand (VOD), RINSTRA went ahead and opened doors for Pakistani content creators.
RINSTRA has not only became Pakistan’s first user generated platform, it also started commissioning content with not only the established names like Haseena Moin and, Mehreen Jabbar but also gave opportunities to young film makers to create content on diverse topics.
The details further revealed that the RINSTRA was floated as an idea at the DICE Foundation, USA’s annual meeting, where committed Pakistanis in North America and Europe felt the need to start a digital platform that can create opportunity for Pakistani storytellers to have Pakistan’s narrative in the global content stream.
The slogan to start RINSTRA was set as “Our Story Our Way”.
The proof of concept was approved and initial seed money of almost US$500,000 was invested to create RINSTRA, with the funding from American-Pakistani diaspora.
The Series-A investment is planned for a US$2 million, being planned for funding from investors with Pakistani origin. The demand for content and entrepreneurial enthusiasm for creating new content for the digital space is pushing the boundaries of content imagination and creativity for such platforms with original and indigenous ideas.
Misbah Ishak Khalid, one of Pakistan’s most versatile actor and director has also joined as the chief creative officer. Dr Adil Akhtar, the creative brain behind RINSTRA is the co-founder and the executive chairman, who is not only a renowned international artist for expressions in painting but also a globally recognised oncologist.
Copyright Business Recorder, 2021
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