Pakistani business Myco claims world's largest prize of 420 million rupees from Tim Draper's international startup competition
In a groundbreaking achievement, Myco, a Pakistani-origin video streaming platform, has emerged victorious in the grand finale of "Meet the Drapers," a globally renowned startup reality show hosted by Tim Draper, a third-generation venture capitalist known for his early bets on companies like Tesla, SpaceX, Skype, Coinbase, and Baidu.
Myco outperformed over 2,000 startups from around the world to secure a total of $1.5 million in deals, making it the highest investment and SaaS business deal of Season 9. This includes $500,000 in direct investment and a $1 million SaaS contract following a thorough due diligence process.
The participation of Pakistani startups in the competition was facilitated by PakLaunch, a global platform and community founded in 2020 by Aly Fahd. Aly successfully convinced Tim Draper to feature Pakistani startups for the first time in 2024, marking a significant milestone for the Pakistani startup scene.
Launched from the UAE in 2021, Myco is more than just a video streaming app. It is a next-generation media-tech platform built at the intersection of content, technology, and financial empowerment. Myco's user experience centres on meaningful engagement and rewarding content interactions.
Myco's active user base is present in over 100 countries, including Pakistan, the UAE, KSA, Egypt, and North America. The platform holds rights to premium cricket events, including ICC events, PCB & PSL, but also invests in non-cricket sports such as the English Premier League, MMA, Karate Combat, Padel, Squash, Volleyball, local tournaments, and university events.
Within 18 months, Myco has amassed over 20 million users in Pakistan and expanded its user base to the UAE, Egypt, Saudi Arabia, and North America. The platform is now focusing on scaling operations in North America, MENA, and South Asia, aiming to reach 50 million users by the end of 2025 through aggressive regional expansion and telco/media partnerships.
Myco is also set to launch a decentralized content economy, enabling users and creators to earn, own, and interact with content assets in real time. This move positions Myco as a leader in the Web3-based entertainment industry, reflecting its ambitions to expand beyond its current markets and grow its role in digital content, especially within emerging markets.
The victory marks the first time a Pakistani origin startup has reached the finale of the show, further endorsing Pakistan's emerging role in the future of digital innovation. PakLaunch, with its thriving entrepreneurial community of 350K+ across 30+ countries and multiple platforms, continues to drive startup funding, investments, and global networking opportunities for Pakistani startups.
- Myco, the Pakistani-origin video streaming platform, secured a significant investment of $1.5 million in the grand finale of "Meet the Drapers," a globally recognized startup reality show.
- The investment includes $500,000 in direct investment and a $1 million SaaS contract, following a thorough due diligence process.
- Myco emerged victorious among over 2,000 startups from around the world, making it the highest investment and SaaS business deal of Season 9.
- PakLaunch, a global platform and community founded in 2020, facilitated the participation of Pakistani startups in the competition, marking a significant milestone for the Pakistani startup scene.
- Myco is more than just a video streaming app; it is a next-generation media-tech platform built at the intersection of content, technology, and financial empowerment.
- Myco's active user base is present in over 100 countries and includes rights to premium cricket events, as well as investments in various sports such as the English Premier League, MMA, Karate Combat, Padel, Squash, Volleyball, local tournaments, and university events.
- Myco is set to launch a decentralized content economy, positioning itself as a leader in the Web3-based entertainment industry, with ambitions to expand beyond its current markets and grow its role in digital content, especially within emerging markets.
