Cheatsheet of startup acquisitions in Southeast Asia



Tech startup activity has intensified in Southeast Asia in the past few years as investors and entrepreneurs have started to look more seriously at opportunities in the region. Acquisition activity has increased too. To help you keep track of what’s happening, here’s a cheatsheet of exits in the past few years, covering Singapore, Indonesia, Philippines, Malaysia, and Thailand.


Nonstop Games
Games developer.
– Acquired by Candy Crush Saga maker King for US$6 million cash upfront. Certain employees received US$10M. Further payments of US$16M can be expected for key employees, adding up to a potential US$84 million over four years subject to hitting revenue targets.
– Announced in August 2014
– Source: Games in Asia

Zopim is a live customer support chat widget.
– Acquired by Zendesk for US$30 million in cash and stock.
– Completed in March 2014
– Source: Tech in Asia

An online fashion store.
– Acquired by Indonesian ecommerce site for undisclosed amount.
– Announced in April 2014
More info

Marketplace for unique travel experiences guided by locals.
– Acquired by competitor BeMyGuest for undisclosed amount.
– Announced in January 2014
More info

Tech blog covering startups and technology in Southeast Asia.
– Acquired by Tech in Asia for undisclosed sum.
– Announced on 6 September 2013
– Source: Tech in Asia

EK Media
Runs Sample Store, an ecommerce site for getting cosmetics samples.
– Acquired by SingPost for US$1.2 million.
– Announced in September 2013
More info

Social media analytics
– Acquired by Indian digital agency To The New. Terms undisclosed.
– Announced on 3 September 2013
– Source: EFY Times

Video content site with crowdsourced translation tools.
– Acquired by Rakuten, Japanese e-commerce giant for a reported USD 200M.
– Announced 2 September 2013
– Sources: Tech in Asia, AllThingsD

Indoor positioning.
– Acquired by Ruckus Wireless, a Silicon Valley based supplier of advanced wireless systems. Terms undisclosed.
– Announced on 23 July, 2013
– Source: Tech in Asia

Social, location and mobile media services.
– Acquired by To The New, a digital services network from India. Terms undisclosed.
– Announced on 23 July, 2013
– Source: Tech in Asia

Travelmob is an short-term vacation rentals site with an inventory of 14,000 accommodations throughout Asia-Pacific.
– Acquired by NASDAQ-listed HomeAway for rumored USD 12.5M. Travelmob team retains 37 percent share of business and additional funding.
– Announced on 17 July, 2013
– Source: Tech in Asia

Asian Food Channel
The Asian Food Channel (AFC) is a food and lifestyle broadcaster.
– Acquired by Scripps Networks for US$66 million.
– Announced on April 15, 2013
– Source: Tech in Asia

DS3’s chief product is an ‘authentication server’ that offers internet banking security that can be easily integrated with existing hardware and software systems.
– Acquired by Gemalto for undisclosed sum.
– Announced on 4 April, 2013
– Source: Tech in Asia

Its businesses include vehicle classifieds, a car auction platform, an online marketing site, as well as car loans, insurance and settlement services.
– Acquired by Singapore Press Holdings for USD 48M at x12 multiple of 2012 annual revenue, with final amount dependent on post-merger company performance.
– Announced on 1 April, 2013
– Started in June 2004
– Source: Tech in Asia

Catcha Digital Asia
An online advertising network that connects brands in the online world through their own suite of online media products. It was a subsidiary of Catcha Group Pte Ltd.
– Acquired by Japanese e-marketing company Opt Inc for undisclosed terms.
– Announced on 19 March, 2013
-Started in December 2009
Source: e27

A Storage-as-a-Service solution to enable developers and companies localize their data, ensuring faster access for users.
– Acquired for a seven-digit sum (USD) by an undisclosed San Francisco-based startup in a technology transfer deal for a seven digit sum. The Gridblaze team will join the startup’s 100+ strong staff.
– Announced on 19th February, 2013
– Founded in 2012 by Mikhail Choo.
Source: e27

A startup that aggregates, distributes, licenses and develops mobile gaming software.
– Acquired for SGD1.8M (USD1.5M) by SingTel for 35.5% stake. Japanese telco Softbank will acquire shares of TMG under the same terms. Once buyout is complete, both companies are expected to own a 41% stake each.
– Announced on 25 September, 2012
– Founded in 2008 by Alvin Yap
Source: Tech in Asia

A food portal with reviews and ratings contributed by users.
– Acquired for S$12M (US$9.4M) by SingTel
– Announced on 22nd May, 2012
– Founded in 2007 by Dennis GohWong Hoong An, and Tan Yung Yih
Source: Tech in Asia

The company’s site, Fanvenues, allows users to peek into concert and sports venues in 3D so as to make better purchase decisions about tickets.
– Acquired by eBay-owned Stubhub, terms undisclosed
– Announced on 8th March, 2012
– Founded in May 2008 by Wesley Oxenham, Oliver Oxenham, and Paymon Rasekhy
Sources: Tech in Asia, Wesley Oxenham’s blog

AdMax Network
Digital media network
– Acquired by Komli Media from Mumbai, terms undisclosed
– Announced on 29th February 2012
– Founded in 2006
More info:

Social media dashboard
– Intellectual property rights acquired by SingTel, Terms undisclosed
– Announced on 21st September, 2011
– Founded in 2008 by Thorben Linneberg, Jerome Poudevigne, and Alastair McAlpine
Sources: SGE articles here and here
A daily deals site
– Acquired by NTUC Link, terms undisclosed
– Announced on 1st September, 2011
– Founded in May 2010
More info: Tech in Asia

Aktiv Digital
Ad network platform
– Acquired by Komli Media (Mumbai), terms undisclosed
– Announced on 4th June, 2011
– Founded in 2007
More info: Tech in Asia

JobsCentral Group
Jobs search portal
– Acquiredby US jobs site Career Builder,terms undisclosed
– Announced on 3rd May 2011
– Founded in 2000
More info: Tech in Asia

Online brand monitoring and business intelligence
– Acquired by Australia’s Media Monitors, terms undisclosed
– Announced on 17th February, 2011
– Founded in 2008
More info: Tech in Asia, Brandtology

Daily deals site
– Acquired by Groupon, terms undisclosed
– Announced on 1st December, 2010
– Founded in May 2010
More info: Tech in Asia, Xin.msn

Mobile payment transfer company
– 90% shares acquired for US$38M by payment and security specialist Ingenico, up from 35% stake
– Announced on 4th August, 2010
More info: GoMoNews, Tech in Asia, VentureBeat

Mobile security startup
– Acquisition by McAfee estimated at S$6.8M (US$5M) or S$15M (US$11M)
– Announced on 29th July, 2010
– Founded in June 2005
More info: Digital Life

Top mobile directory app in Singapore
– Majority stake of 53.13 percent at US$3.5M by Global Yellow Pages
– Announced on 9th July, 2010
– Started in November 2007
More info: The Edge Singapore
An internet financial services and technology company with an established base of subscribers and users of its market data tools and financial applications.
– Acquired by Singapore Press Holdings for SGD 12M, with final amount dependent on post-merger company performance.
– Announced on 17 November, 2008
More info: AsiaOne

Music downloads site
– Acquired by Motorola for approximately S$35M (US$27.65M)
– Announced on 7th January, 2008
– Started in 1999
More info: TechCrunch, CNET Asia

Provider of critical infomation Security technologies and services to enterprises and governments
– Acquired by a wholly-owned subsidiary of Temasek Holdings, terms undisclosed
– Announced in 2007
– Founded in 2000
– More info: LinkedIn

IT Media company
– Acquired by Singapore Press Holdings for S$7.1M (US$4.5M)
– Announced on 29th September, 2006
– Founded in 1998
More info: SPH, Wikipedia


Indonesia-based online food delivery company
– Acquired by Japanese online food delivery business Yume no Machi for an undisclosed amount. Yume no Machi now owns a 55.4 percent stake.
– Announced in September 2014
More info

Indonesia-based app store and content provider
– Acquired by Singapore-based gaming cloud service provider Corous360 for S$4.72 million (US$3.35 million).
– Announced in May 2014
More info

An ecommerce price comparison site
– Acquired by South Korea’s mobile media company Yello Mobile for an undisclosed amount
– Announced in May 2014
More info

A recipe sharing site and social media for cooking enthusiasts
– Acquired by Japan’s recipe sharing site Cookpad, which purchased 60 percent of the for $600,000. The remaining 40 percent of the site’s shares were sold for an undisclosed amount.
– Announced in April 2014
More info

An event management platform
– Acquired by US-based business development company EnvisionPoint, terms undisclosed.
– Announced on September 2013
More info

Payment service provider focusing on online game credits.
– Acquired by MOL AccessPortal, a subsidiary of Malaysia’s MOL Global, for undisclosed terms.
– Announced on 20 March, 2013
– Started in November 2009
– Source: Tech in Asia

Location-based social network
– Acquired by Indonesian game publisher Qeon, terms undisclosed
– Announced on 13th July, 2012
More info: DailySocial

iOS games review site
– Acquired by Indonesian company Apps Foundry, terms undisclosed. Later acquired by Tech in Asia.
– Announced on May 9, 2012, and September 2013.
More info: Tech in Asia

Biggest community website for Mac and iOS fans in Indonesia
– Acquired by Indonesian company Apps Foundry, terms undisclosed
– Announced on 16th February 2012
More info: TechinAsia
Online news portal
– Acquired by Para Group for US$60M
– Announced on 4th August, 2011
– Launched in 1997
More info: Tech in Asia,
Claims to be Indonesia’s largest property portal
– Acquired by IPGA, which owns iProperty, for US$ 1.6M in cash and seven million shares
– Announced on 28th May, 2011
More info: iProperty,
Indonesia’s third largest property portal
– Acquired by IPGA, which owns iProperty, for US$300k in cash and another US$200k subject to conditions
– Announced on 28th May, 2011
More info:

Daily deals site
– Acquired by Groupon, terms undisclosed
– Announced on 6th April, 2011
– Launched in August 2010
More info:
Claims to be Indonesia’s top property website
– Acquired by PropertyGuru, terms undisclosed
– Announced on 7th February, 2011
– Founded in 2007
More info: PropertyGuru

Location-based social service
– Acquired by Yahoo!, terms undisclosed
– Announced on 25 May, 2010
– Started in 2008
More info: eweek, e27


Pan-Asian online jobs search business
– Slated to be acquired by Australian counterpart Seek, which sought to purchase the remaining 78 percent for a valuation of US$523.5 million.
– Announced in February 2014.
– Source: Tech in Asia

Tongue in Chic
A media platform for lifestyle, fashion, shopping, and beauty
– Acquired by Pop Digital, a creative media shop specializing in media and technology. Terms undisclosed. Both companies will join forces to form the Popfolio Network.
– Announced on 2 September 2012.
– Source: e27

Ocision runs Airbnb-like service iBilik, property listing site Propwall, and
– 90% stake acquired by Malaysian media giant Star Publication for RM 13.5M (USD 4.36M). First exit for Crystal Horse Investments.
– Announced on 1 Jun 2013
– More info: theStar Online, Tech in Asia
Car portal
– 50% stake acquired by Catcha Media estimated at around RM5M (US$1.5M)  in Dec 2011, complete acquisition on 23rd Feb, 2012
– Started in 2007
– Announced on 24th Jan 2012
More info: Catcha Media,

Integrated Methods
Ran, a daily deals site.
– Acquired by South Korea’s Ticket Monster, terms undisclosed
– Announced on 31 May, 2011
More info: TechCentral

Daily deals site
– Acquired by Groupon, terms undisclosed
– Announced on 26th Jan 2011
– Started in 2010
More info: articles here and here
North Malaysia’s leading real estate site, which at the point of time had 100,000 visitors viewing more than one million real estate pages monthly, an opted-in member database of more than 45,000 home buyers and investors, and an active Facebook page with 9,000 members.
– Acquired by Singapore’s PropertyGuru for cash and equity, terms undisclosed
– Announced on 24th Jan 2011
More info: PropertyGuru

Think Media
Property site which had more than 4 500 Agents advertising approximately 80 000 properties for sale and for rent. It received 178 000 Unique Visitors in May 2010
– Acquired by iProperty for AUD2.08M.
– Announced on 2 Aug, 2010
More info: IPGA

Octazen Solutions
Contact importing from one service to another
– Talent acquisition by Facebook, terms undisclosed
– Announced on 19th Feb, 2010
More info: GigaOm, TechCrunch 


Anino Games
Casual games for iOS and Android.
– Acquired by Thailand-based games developer Pocket PlayLab, terms undisclosed
– Announced July 2014
More info

Online flower delivery site
– Acquired by, terms undisclosed
– Announced 30th October 2011
– Started in 2005
More info: YugaTech

Prepaid payment platform.
– 100% acquired by MOL AccessPortal for undisclosed financial terms.
– Announced 1 June, 2011
More info: MOL

Wireless application service provider, known for its instant messenger
– Acquired bySmart Communications  for PHP629M (US$13.5M)
– Announced 10th November, 2009
More info
Leading classified ads site in Philippines
– 51 percent stake acquired by MIH at estimated US$1M
– Announced 3rd July, 2009
– Founded in 2006
More info: YugaTech

Entertainment Gateway Group
One of the leading mobile content providers in the Philippines, offering value-added services for mobile including music downloads, news & information, games, chat, and web to mobile messaging.
-Acquired by Globe Telecom for PHP351M (US$7.83M)
– Announced on 5th August, 2008
– Started in 2001
More info: YugaTech

Digiwave Solutions
Online gambling software developer
– Acquired by Philippines-listed entertainment group Premiere Entertainment Productions for P50 million (about US$1.24M)
– Announced on 29th Feb 2008
More info: CasinoMeister

Airborne Access Corp
Wireless fidelity firm
– 51% share acquired by ePLDT in 2005 for undisclosed amount
– Announced in 2005
More info: GMANetwork


Zest Interactive
Thailand’s leading games distributor and payment gateway company
– Acquired by Malaysia’s MOL Global, terms undisclosed
– Announced on 25th July, 2011
– Started in 2006
More info: Tech in Asia, Techielobang

Dealkeren and parent company Ensogo
Ensogo is a daily deals company headquartered in Thailand and operating in Philippines and in Indonesia as Dealkeren
– Acquired by Living Social, terms undisclosed
– Announced on 27th June, 2011
– Started in 2009
More info:, Wikipedia

An online tool for designing Facebook fan pages.
– Acquired by website creation service provider Webs, terms undisclosed.
– Announced on 1st February, 2011
– Started in March, 2010
More info: TechCrunch, Pagemodo
Thailand’s largest e-commerce company at time of acquisition
– Acquired by Rakutan, Japan’s leading e-commerce company, with 67 percent stake
– Announced on 1st October, 2009
– Established in 1999
More info: The Nation


Beauty subscription commerce startup.
– Acquired by VanityTrove, a similar company from Singapore for undisclosed terms.
– Announced on 2 August, 2013.
More info: Tech in Asia

Original image: nanquimvirtual

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