Iflix Gets $90 Million to Battle Netflix in Emerging Markets
- Forms venture with Kuwait’s Zain for Middle East, Africa
- Service offers low-price alternative to top streaming systems
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Iflix, a video-streaming service with customers mostly in Southeast Asia, raised $90 million in a round led by telecommunications giants Liberty Global Plc and Kuwait-based Zain to take on Netflix Inc. and Naspers Ltd. in Africa and the Middle East.
The investment will also fund expansions throughout Asia, the company said in an emailed statement Tuesday.