B2B content marketplace start-up Mena.tv is offering its shares to the public.
Nick Grade, CEO, Mena.tv said: “Launching a new share offering when global stock markets are suffering from major corrections might seem like a brave move, but we believe it’s the right one.”
Mena.tv has positioned itself as a content marketplace helping TV channels and streaming networks connect with producers and distributors of TV shows.
Grande added: “Current market conditions are reminiscent of the retail property market before the launch of digital marketplaces such as Propertyfinder and Rightmove. Nowadays it’s easy to forget that buying a house used to mean visiting every real estate agent in town. When it comes to buying TV shows, there are over 6,000 producers and distributors around the world that you can acquire shows from. Without the search and comparison tools offered by a digital marketplace, buyers from TV and streaming networks are forced to rely on habits and opinions to make their purchasing decisions.”
The mena.tv equity raise is open to investors on Eureeca.com from Tuesday 10th March.
MENA is a big market opportunity for the TV content industry: there are over a thousand MENA buyers spending over $3bn a year between them on content, and this number is only growing as more and more streaming networks launch in the region. In its first two years of operation, mena.tv has attracted over 650 content buyers, has picked up regional and international awards, and showcases content from over 40 producers including Discovery, Viacom, Rotana and Cedars Art Productions (producers of the Ramadan hit Al Hayba).
Grande points out, however, there is a long way to go: “A marketplace is only successful when it offers real choice. We want to see at least 15-20% of all global TV producers and distributors using mena.tv to promote their shows to MENA buyers within the next five years. This will consolidate mena.tv’s position as the essential MENA marketing tool of the content industry.”
To achieve these aims, the business is investing in its technology and user engagement. “For the first couple of years we were able to operate as a relationships business, but that doesn’t work at scale,” Grande explains. “We are raising funds on Eureeca.com to allow us to invest in the platform and develop a robust and feature-rich user experience that will allow buyers and sellers to get everything they need without any handholding”.
Eureeca.com is a global equity crowdfunding platform and has helped dozens of regional start-ups such as the online shopping marketplace El Grocer to attract seed funding. The Eureeca platform is regulated and licensed by the UK Financial Services Authority, allowing individuals to invest small or large amounts in the start-up businesses promoted.