Female Daily Network, (“FDN”), Indonesia’s leading online beauty destinationand community, today announced US$1 million in Series A funding from a group of investors including Ideosource (Lead Investor), SMDV and Convergence Accel.
Since starting five years ago, FDN has grown into the leading online beauty destination for Indonesian women by consistently providing high quality editorial content and cultivating a highly engaged user base through its forums and review sections. FDN already received several million monthly visits and expects to break the 100MM page view mark this year.
FDN’s strong position in the female segment makes it an attractive partner for multinational and local brands to address Indonesia’s large and growing billion$ cosmetics and beauty market.
Hanifa Ambadar, Founder & CEO of FDN initially started her blog to cater for herpassion in beauty and fashion. She soon realized that her blog had the potential to grow into a broader platform to connect Indonesian women with interest in beauty. Guided by this vision and a commitment to quality content FDN has already grown to a profitable business. In recognition of this, Hanifa was recently selected as a EndeavorHigh Impact Entrepreneur joining a group of entrepreneurs with proven track records and future promise.
“Our vision has always been about empowering women. We want to be known as the place for Indonesian women to unlock their full potential and help them to be the best they can be. Our dream is to see every Indonesian woman be connected to one another through Female Daily. We’re starting with beauty but we see many opportunities in the future as well. It’s a huge dream and partnering with these investors will widen our network and help take us further towards realizing that dream.” said Hanifa
Andi S. Boediman, Managing Partner of Ideosource, said “Female Dailyrepresents the empowered Indonesian women where they have an open community to share knowledge, experience, network and friendship. Women see beauty as a source of confidence to help them raise their self-esteem and unleash themselves. This is where FDN fits into the behavior of Indonesian women. FDN has the capability to be the ultimate source of insight and consumer behavior which can help brands to create future campaigns and strategies”.
With the funding, FDN aims to advance its web and mobile social platform which combines content, community and commerce to create a superior content discovery, personal recommendation and shopping experience for the 25 million Indonesians between the age of 18-45 years old.
About Female Daily Network
Female Daily Network is Indonesia’s leading beauty and parenting internet portal founded in 2005. Started as personal fashion blog, it has ventured out to be a successful digital publishing business and firmly established itself as Indonesia’s best rated beauty and parenting social platform. Apart of it being the country’s foremost online authority in beauty and parenting, Female Daily Network is also a home of 180,000+ Indonesian women which ranks it as Indonesia’s largest female online community.
Ideosource is one of the leading Venture Capitals in Indonesia focusing in consumer internet portfolio companies investment covering content, digital media, e-commerce and cloud services. Since its foundation in mid 2011, Ideosource stands as a neutral and non corporate backed VC, with deep industry knowledge to be considered as industry insider.
SMDV partners with entrepreneurs building exceptional technology companies that aim to change the landscape in Indonesia and the region by providing venture investments, strategic network, and mentorship. Entrepreneur ourselves, we work to understand each company’s needs and contribute to their market leadership and culture building. We invest in different stages of the companies’ life cycle, primarily in their growth stage.
About Convergence Accel
Convergence Accel is an early stage technology venture fund focused on investing in Indonesia. The partners are seasoned entrepreneurs with extensive operating experience in Internet businesses in emerging markets. Convergence Accel seeks to back exceptional founders and support them to grow their businesses. We do this by leveraging our experience, network and resources to empower entrepreneurs to build long lasting and impactful businesses for Indonesia and the South East Asia market. Convergence Accel brings together advisors and Limited Partners from the US, China and Indonesia who have successfully backed hundreds of technology businesses in the past decade and bring deep local networks and resources in media and related industries to our founders.