Asian streaming service Iflix posts impressive growth

Iflix, an Asia-based streaming service, has scored a major investment and is moving toward an IPO.

The service, which works in 12 Asian countries, completed a funding round that racked up $50 million, though it provided little details.

Growth is partially due to the company introducing a free tier.

Like many other streaming services, Iflix is also ramping up original content production.

In six months, the service has grown from 9 million users to 16 million.

The service is available to Malaysia, Indonesia, the Philippines, Thailand, Brunei, Sri Lanka, Pakistan, Myanmar, Vietnam, Cambodia, Nepal and Bangladesh.