Khmerload attracts Silicon Valley’s investment

Khmerload, a Cambodian entertainment news website modeled after American media giant Buzzfeed, becomes the first local tech startup to attract an investment from Silicon Valley investors called 500 Startups, which is a global venture capital seed fund and startup accelerator founded by PayPal and Google alumni, Dave McClure and Christine Tsai. The investment size is $ 200,000, putting the company’s total value at more than $1mn, according to In Vichet, Khmerload’s founder and CEO. Khmerload has more than 17 million page views per month in Cambodia. Last year, the company expanded into Myanmar, taking the name of Myanmarload, and has already achieved about 20 million page views per month. Khmerload has also carried out a successful pilot Indonesia and was incorporated in Singapore as Mediaload. “Even with a good idea, it is really hard for Cambodians to get investment from Silicon Valley, as there is no precedent of success,” Vichet Said. “I hope I can deliver good returns to them so that in the future they will invest in other Cambodian technology startups.” (Source: voanews)