Search engine attracts Silicon Valley cash
The Silicon Valley-based venture capital firm 500 Startups has announced its first flurry into the Myanmar market. The firm has invested an undisclosed amount in Bindez, a search engine that is rapidly gaining traction as a local rival to Google.
Bindez, short for Burmese Index, began life as a search engine that allowed users to explore the complexities of the Myanmar language, before developing two facets called Bindez Insights and Bindez Tha Din.
The Insights product is a monitoring tool that uses social media to analyse Myanmar market trends, while the recently developed Android app Tha Din allows users to search and engage with news in the Myanmar language. Growing the app's 20,000 monthly active users remains the priority for the company.
“We'll leverage tech, product and trends for revenue models soon,” CEO Rahul Batra told the website Tech in Asia. 500 Startups is hopeful that Bindez may be able to take on the social media giant of Facebook by offering a locally developed way of providing real-time information.
The Tha Din app from Bindez offers a fully Myanmar news experience