Fatima Group provides huge funding to MangoBaaz
Mangobaaz is undoubtedly the only popular name in Pakistan for providing millennial content today. The group has now received a major domestic funding from Fatima Ventures. This is one of Fatima Group’s subsidiary to which Mangobaaz has given $115,000 through ventures.
Mangobaaz is Pakistan’s BuzzFeed or India’s ScoopWhoop for sure. Co-founders Ali Ahsan and Ali Gul left their high paying jobs in the US last year to start the company in August 2015. They sought PlanX (Pakistan’s largest accelerators) to get huge audiences in just a year. Today, their audience for videos is also increasing more and more. Hence, it is Pakistan’s first media startup to get funding from a venture capital enterprise.
Ali Ahsan comments that receiving funding from this group means MangoBaaz has been analyzed on all business fronts successfully. It means that it is identified as an attractive investment opportunity with such a business model. Moreover, Ali Gul adds that the investment shall allow them to expand their existing operations to scale videos and diversify services.
Ali Mukhtar is the CEO of Fatima Ventures. He adds that they are very confident in MangoBaaz’s success as it has immense Digital Advertising potential. Other broadcast and beauty industries through InteraCta and BeautyHooked are also their ventures. But this investment is their strategic choice too.
Hence, it now has Coco Cola, Nestle, Unilever, YouTube, Reckitt Benckiser, Uber, Telenor, Samsung, etc as its global clients. Other names like OMD, GroupM are also some business partners with whom they have worked. MangoBaaz has now also launched a web portal for university students in Pakistan namely MangoBaaz Campus.