The Latest Insights from International Online Marketing
The photo sharing and social networking app PicMix has raised 3 million US dollars in funding.
PicMix allows users to edit and share photos, engage in social networking and social ecommerce, and take part in contests.
It has around 27 million registered users, of which 50% use the app on at least a monthly basis.
PicMix is most popular in Indonesia, Nigeria and South Africa.
It intends to use the money to create a learning algorithm that will help it to better understand the needs of its users, as well as to expand its social ecommerce platform to other South East Asian countries.
South East Asia is an appealing market due to its rapidly rising mobile internet population.