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RINSTRA – Pakistan’s First Digital Platform valued at $20mn

01:43 PM | 31 Jan, 2021
RINSTRA – Pakistan’s First Digital Platform valued at $20mn

ISLAMABAD – RINSTRA, the country’s first digital platform for content creators, has been valued at $20 million on the basis of project industry trends in the valuation of similar businesses in emerging and frontier markets.

RINSTRA aims at encouraging local content makers to produce great content for the platform and claims to offer a greater share of revenue generated than the existing market rate. The slogan to start RINSTRA was set as “Our Story Our Way”.

Pakistan has more than 76 million internet users and 37 million active social media accounts are one of the biggest opportunities for growth in the economy. With mobile internet rates giving maximum value to the customers has been the sole entertainment instrument for the masses. However, the lack of indigenous platforms that can push native flavored content is one of the biggest missing links for Pakistani content creators.

The platform not only provides on-demand streaming services but also gives original content creators a gateway to broadcast their content. Their iRinstra program provides economic opportunities for Pakistani content creators.

While all other applications and platforms are offering simple streaming of the news and entertainment channels with a few offering videos on demand (VOD), RINSTRA went ahead and opened doors for Pakistani content creators.

Being the country’s first user-generated platform, RINSTRA started commissioning content with not only the established names like Haseena Moin and Mehreen Jabbar but also gave opportunities to young film makers to create content on diverse topics.

RINSTRA was floated as an idea at the DICE Foundation, USA’s annual meeting, where committed Pakistanis in North America and Europe felt the need to start a digital platform that can create the opportunity for Pakistani storytellers to have Pakistan’s narrative in the global content stream.

The proof of concept was approved and initial seed money of almost $500,000 was invested to create RINSTRA, with the funding from the American Pakistani diaspora. The Series A investment is planned for $ 2 million, being planned for funding from investors of Pakistani origin. 

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan Today - PKR to US Dollar, Euro, Pound, Dirham, and Riyal - 21 April 2024

Pakistani currency remains unchanged against US Dollar and other currencies on April 21, 2024. US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro stands at 293 for buying and 296 for selling while British Pound hovers at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.20 and Saudi Riyal's new rate was at 73.30. 

Today’s currency exchange rates in Pakistan - 21 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 293 296
UK Pound Sterling GBP 342.5 346
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.55 748.55
Canadian Dollar CAD 201 203
China Yuan CNY 38.47 38.87
Danish Krone DKK 39.78 40.18
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.11 912.11
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.61 25.91
Omani Riyal OMR 723.2 731.2
Qatari Riyal QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.47 307.97
Thai Bhat THB 7.56 7.71

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