Singapore, – Singapore Press Holdings Ltd (SPH) announced today that its wholly owned subsidiary is the lead-investor in a Series B US$10 million round of funding in Magzter Inc (Magzter), a global digital magazine store and newsstand. The other co-investor is Kalaari Capital (Kalaari), a venture capital fund investing in global technology-oriented companies.
Ms Deborah Lee, Executive Vice-President, Corporate Development, SPH, said: "Investing in Magzter Inc is an opportunity for us to enter into yet another new platform for content delivery and is part of our strategy to enhance content creation and distribution. We are excited to be part of this round of funding and see great potential in Magzter for future growth."
Magzter allows any publisher in the world to digitally publish for a global audience. The company was co-founded by its Chief Executive Officer, Girish Ramdas and President, Vijayakumar Radhakrishnan in 2011. The company’s headquarters are located in New York and it has sales offices in various countries, including Singapore.
Magzter has more than 16 million users from more than 200 countries and carries a global catalogue of thousands of magazines in more than 30 global languages. Global publishers using Magzter include Hearst (USA), Conde Nast (USA), Newsweek (USA), Bloomberg (USA), Haymarket (UK), Edipresse (HK) and SPH in Singapore.
Issued by Singapore Press Holdings Ltd
Co. Regn. No. 198402868E
For more information, please contact:
Corporate Communications and CSR Division
Singapore Press Holdings Ltd
DID : 6319 2261
HP : 9798 6097
Email : email@example.com
About Magzter Inc.
Magzter Inc. is the world’s largest and fastest growing self-service digital magazine store and newsstand with over 16 million digital consumers, more than 2850 magazine titles and over 900 publishers. Headquartered in New York, Magzter has its offices in London, Chennai and Singapore. Founded by global entrepreneurs, Girish Ramdas and Vijayakumar Radhakrishnan in June 2011, Magzter enables magazine publishers around the world to offer digital editions of their titles to global consumers allowing them to easily access and subscribe to them with a single touch, powered by the ‘Orey Click Publishing System’. Magzter also enables publishers to publish interactive/ audio-visual content because it supports HTML 5.
The Magzter app is available on Apple iOS, Android (Google Play), Windows 8, the Web, Amazon App Store and Huawei App Store and is expanding to more platforms soon. Users can buy their magazines on any of the above devices/platforms and seamlessly port their purchases to any other devices; a feature unique to Magzter.
The company counts among its publisher customers some marquee names including Hearst (USA), Conde Nast (USA), AMI (USA), Newsweek (USA), Dennis Publishing (UK), Haymarket (UK), Media24 (South Africa), Edipresse Asia (HK), India Today Group (India), Alpha Media (USA), Black Enterprise (USA), Singapore Press Holdings (Singapore) and has been rapidly expanding its publisher base with magazines from more than 40 countries including USA, UK, Germany, Spain, China, Hong Kong, India, Indonesia, Thailand, Philippines, Malaysia, Singapore, etc., making Magzter truly the #1 choice for magazine readers and publishers the world over.
About Singapore Press Holdings Ltd
Incorporated in 1984, main board-listed Singapore Press Holdings Ltd (SPH) is Southeast Asia’s leading media organisation, engaging minds and enriching lives across multiple languages and platforms.
Newspapers, Magazines and Book Publishing
SPH has 19 titles licensed under the Newspaper Printing and Presses Act, of which nine are daily newspapers across four languages. On an average day, 3.05 million individuals or 76 per cent of people above 15 years old, read one of SPH's news publications. SPH also publishes and produces more than 100 magazine titles in Singapore and the region, covering a broad range of interests from lifestyle to information technology. SPH's subsidiaries, Straits Times Press and Focus Publishing, produce quality books and periodicals in English and Chinese.
Internet and Mobile
Beyond print, the Internet editions of SPH newspapers enjoy over 300 million page views with 20 million unique visitors every month. Apart from AsiaOne, SPH’s online and new media initiatives include ST701, the leading online marketplace for jobs (STJobs), property (STProperty), cars (STCars) and general classifieds (STClassifieds); Stomp, omy.sg and The Straits Times RazorTV. SPH also launched The Straits Times’ iPad and enhanced iPhone applications, an Android smartphone application and The Business Times’ iPhone application. SPH’s Chinese flagship newspaper Lianhe Zaobao has also launched its digital editions which include a web application, as well as online and PDF versions.
In the radio business, SPH UnionWorks Pte Ltd operates entertainment stations UFM 100.3 in Mandarin, as well as Kiss92 and HOT FM91.3 in English. SPH has a 20 per cent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8 and U, and a 40 per cent stake in MediaCorp Press Limited, which publishes the free newspaper, Today.
Events and Out-of-Home Advertising
SPH’s events arm Sphere Exhibits organises innovative consumer and trade events and exhibitions as well as large scale conferences in Singapore and the region. In addition, SPH has ventured into out-of-home (OOH) advertising through its digital out-of-home platform SPHMBO.
SPH REIT is a Singapore-based REIT established principally to invest, directly or indirectly, in a portfolio of income-producing real estate which is used primarily for retail purposes in Asia-Pacific, as well as real estate-related assets. SPH REIT is managed by SPH REIT Management Pte. Ltd., which is a wholly-owned subsidiary of Singapore Press Holdings Limited.
The initial portfolio of SPH REIT comprises the following two high quality and well located commercial properties in Singapore:
- Paragon, a premier upscale retail mall and medical suite/office property, well known for its upscale mall housing many luxury brands, located in the heart of Orchard Road; and
- The Clementi Mall, a mid-market suburban mall located in the centre of Clementi town, an established residential estate in the west of Singapore.
The Seletar Mall is SPH's latest retail development and is expected to open at the end of 2014. This property is a potential asset to be injected into SPH REIT. SPH’s wholly-owned subsidiary, Times Development Pte Ltd, also developed a 43-storey upmarket residential condominium, Sky@eleven, at Thomson Road.
For more information, please visit www.sph.com.sg.