DealStreetAsia reports that METUB, a Vietnam-based startup operating in the creative economy, has successfully raised $15.5 million from a private investment fund managed by Morgan Stanley.
Specifically, METUB secured this funding in a Series B round led by North Haven Thai Private Equity, a private investment fund established by Morgan Stanley Private Equity Asia in collaboration with Bangkok Bank. Moving forward, METUB plans to raise additional capital from other investors in this round.
According to documents, North Haven has also acquired shares from WebTVAsia, a Malaysian creative economy company and existing shareholder of METUB. DealStreetAsia notes that North Haven will become the largest shareholder of the company.
In 2023, METUB successfully raised $6 million from investors, including Vertex Ventures Southeast Asia & India and Do Ventures.
METUB has supported numerous famous Vietnamese artists.
Founded in 2014 by Ha Thi Tu Phuong and Nguyen Van Dung (Steven Nguyen), METUB is a digital content publisher and multi-channel network on YouTube in Vietnam, operating under the ‘Creator First’ principle. They support the promotion, publishing, business development, and video production for online content creators and entities.
METUB assists over 1,700 content creators in Vietnam to grow their communities and diversify their income across multiple media platforms. Their services include content production and distribution, influencer marketing campaigns, and content partnership marketing.
One of the singers who has found success with METUB’s support is Son Tung M-TP. Through his YouTube channel, Son Tung M-TP became the first Vietnamese singer to reach one million subscribers and receive a Gold Button from YouTube in 2017. He also topped the category for the most popular MV on YouTube Rewind for two consecutive years. Additionally, METUB has successfully developed the YouTube channels of other top Vietnamese singers, including Noo Phuoc Thinh and Chi Pu.
According to a report by market intelligence company Cube Asia in October 2023, celebrity marketing directly contributed nearly $11 billion to the net merchandise value of e-commerce in Southeast Asia last year.
The report noted that over 80% of consumers in the region made purchases based on influencer recommendations. It also highlighted that Vietnam has the highest overall usage of content and social media platforms in Southeast Asia, with a significant influence on purchasing decisions by influencers and celebrities.
SSI appoints another Deputy CEO
On February 20, 2024, SSI Securities Corporation (HOSE: SSI) has made the decision to appoint Mr. Nguyen Duc Thong – Director of the Department – Assistant to the Chairman of the Board of Directors to the position of Deputy CEO, effective from March 1, 2024.
