Online media startup Boombastis has recently secured an undisclosed pre-Series A funding from Unistellar, a venture development and advisory firm which pulls funds from Southeast Asian high-net-worth individuals and institutions.
Based in Jakarta, Unistellar help entrepreneurs to take their businesses to the next level by providing practice knowledge, strategic direction, talent management, and relevant business network to accelerate the growth of their business partners.
Boombastis is Unistellar’s first media company that was successfully launched in 2014. Since its site went live, the startup has accumulated a total of 16.9 million page views and a proclaimed 4 million users per month.
The online media platform grew the traffic on the basis of creating viral content which targets the Indonesian Alay market, that is in reference to the audiences in the middle to lower tier of the market which has a size of over 30 million.
Besides viral content, the site also delivers informative content as well including lifestyle tips.
The startup has also been operating on a very lean cost. According to Pascal Sembel, the managing partner of Unistellar, “the editorial team consists of only four full-time employees. The rest are freelancing contributors whom we are paying per article.”
“Barrier to entry in this sector is very low. It’s so easy to become a media entrepreneur these days,” said Nendra Rengganis, the CEO of Boombastis. “But only content business is not profitable, you need to come up with different revenue streams.”
Rengganis further explained, “some have started to create their own communities, launching their own product or setting up merchandise stores. That is one of the ways to maintain independence.”
In this aspect, Boombastis will introduce a string of new features, including what it calls a new kind of news, infotainment, and Youth Muslim Media. Moreover, with the fresh capital, the startup expects to reach a break-even point in the next three to six months.
Boombastis currently competes with Kumparan, Brillo, Hipwee, IDNtimes, Malesbanget.com, Baca, and many others in the attempt to dominate the pop-culture driven millennial market segment in Indonesia.
By Vivian Foo, Unicorn Media