Online streaming service provider iFlix is getting ready to officially launch its operations in Pakistan. The firm recently recruited its new General Manager (GM) to head operations here. Farees Shah, from German home of startups Rocket Internet and founder of Daraz.pk in 2012, has been appointed as the GM of iFlix Pakistan.
About iFlix
iFlix currently operates in four countries and Pakistan will be its fifth market. Its services are currently available in Malaysia, Thailand, Philippines and Indonesia. iFlix’s head for Indonesia was appointed recently as well. He was a former Emtek Group executive.
The online streaming service targets emerging markets to expand its global reach. Coming to Pakistan goes in line with the company’s strategy. Countries like Costa Rica, Myanmar and Kenya are expected to get iFlix services later this year.
About Pakistan’s Viability as a Business Destination
Farees Shah, during an interview at Rocket Internet in 2014, stated that risks of opening a business in Pakistan. According to him security fears are often “overstated,” and was of the view that Pakistani population is up to date with international trends. When talking about his experience in Pakistan, he said that the market isn’t understood very well and “Buying online was not an alien concept for people.”
Shah said that there is plenty of sharp and young talent in Pakistan. He said that during his work at Daraz, he successfully raised two rounds of funding worth more than 60 million US dollars. The Daraz.pk founder helped the e-retailer reach a monthly turnover of over 1 million US dollars, after starting from scratch, in a matter of three years.
Farees Shah’s experience in launching an online business in Pakistan led to his appointment as the GM of iFlix Pakistan. Before Rocket Internet, Shah has previously worked for the Karachi Electric Company, Pakistan Mercantile Exchange Limited and a three-month stint with Deutsche Bank, London. He is also host for a countrywide radio sports show on CityFM 89.
iFlix has been gaining investors’ interest in recent times, keeping in mind the expansion of online streaming giants like Netflix. Less than a month ago a TV and streaming giant, British Sky TV also bought a £32 million stake in iFlix. Sky TV’s Chief Financial Officer (CFO) Andrew Griffith said that “Iflix has quickly established itself as Southeast Asia’s most exciting and fastest-growing streaming TV service. There are lots of opportunities for Sky and Iflix to work together and share expertise as both companies continue to expand.” Another one of iFlix’s investors is the popular film producer MGM.
Via: mUmbrella Asia
Image Source: Adobomagazine
Amazing DarazPk; turnover of 1Million USD/Month, if it’s launched over the globe can compete big e-commerce companies then isn’t it?
Another Legendary international service launched here. Good Luck Nawaz Sharif. Jeay PML N