Singapore's online parenting magazine theAsianparent has received a multi-million dollar investment from Vertex Venture Holdings Ltd, bringing the company's total funding to S$4.5 million.
Founded in 2009, theAsianparent has rapidly grown its readership base to over 6 million mothers across Singapore, Thailand, Indonesia, Philippines, and Malaysia. The online magazine offers marketers with targeted platforms for tapping into the mums segment, which is important as theAsianparent's 2014 Digital Mum Survey found that Asian mothers influence 89 percent of all household purchases.
According to Roshni Mahtani, CEO and Founder of theAsianparent, the new investment will be used to help the company build its presence in India and Sri Lanka under the IndusParent brand. When asked the reason for wanting to expand in those countries, Mahtani pointed out the larger available audience there who needs a one-stop parenting portal.
"India has over 200 million people online and a relatively high birthrate, with over 50 percent of the country under the age 25. This is indicative of a growing parenting population. Moreover, we realise that each country across the region has its specific needs in terms of the availability of a centralised source of information on parenting," said Mahtani.
In addition to expanding its footprint in new markets, theAsianparent is also planning to expand its reach in current markets by including parenting information for dads. Mahtani said, "In the past few years, we have observed that dads are getting more involved now -- learning to change diapers and essentially all other 'mother duties'. These changes are among the things that drive the need for us to build more resources for dads wanting to improve their parenting skills."
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