PHNOM PENH — Cambodia’s start-up scene might be in its infancy, but it is slowly garnering attention on the world stage.
Vichet In, co-founder and CEO of digital media company Khmerload, helped put Cambodia on the radar when the company received a $200 million investment from California-based venture capital seed fund 500 Startups, effectively becoming the first local company to receive funding from Silicon Valley.
Dubbed the Buzzfeed of Cambodia, content on the site includes sports, fashion, music and lifestyle news — like Cambodian singer Sokun Nisa’s new outfit — all presented in local language. The name Khmerload is in fact derived from the local language, Khmer, and the trend of millennials downloading media content online.
Speaking to CNBC on the sidelines of the World Economic Forum’s ASEAN meeting, the 33-year-old entrepreneur said he continues to see opportunities in the local market, but feels that understanding that audience is crucial.
“The local market is underserved,” said Vichet, who saw an opportunity to provide content to local millennials, who may not find English content accessible. Khmerload produces its own content, and also outsources content from local newspapers.
Registered under parent company Mediaload in Singapore, the media player now boasts 10 million unique visitors and 56 million page views per month. It aims to grow tenfold, ultimately reaching a monthly viewership of 100 million in three to five years time.