Cheatsheet of technology startup exits in Southeast Asia

Last updated: 5 April, 2013

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. Let us know if we missed out on any company, or if you have any feedback on how to improve the list.

Singapore

DS3
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: SGE

sgCarMart
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: SGE

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

Gridblaze
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

TheMobileGamer
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: SGE

HungryGoWhere
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 Goh, Wong Hoong An, and Tan Yung Yih
Source: SGE

Peekspy
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: SGE, 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: StartupCentral.in

OrSiSo
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

BigDeal.sg
A daily deals site
- Acquired by NTUC Link, terms undisclosed
- Announced on 1st September, 2011
- Founded in May 2010
More info: SGE

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

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

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

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

TransferTo
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, SGE, VentureBeat

TenCube
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

ShowNearby
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

Shareinvestor.com
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

Soundbuzz
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

e-Cop
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

HardwareZone
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

AyoPay
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: SGE

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

Gamesaku
iOS games review site
- Acquired by Indonesian company Apps Foundry, terms undisclosed
- Announced on 9th May, 2012
More info: TechinAsia

MakeMac
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

Detik.com
Online news portal
- Acquired by Para Group for US$60M
- Announced on 4th August, 2011
- Launched in 1997
More info: SGE, DailySocial.net

Rumah123.com
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, DailySocial.net

Rumahdanproperti.com
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: iProperty, DailySocial.net

Disdus
Daily deals site
- Acquired by Groupon, terms undisclosed
- Announced on 6th April, 2011
- Launched in August 2010
More info: DailySocial.net

Rumah.com
Claims to be Indonesia’s top property website
- Acquired by PropertyGuru, terms undisclosed
- Announced on 7th February, 2011
- Founded in 2007
More info: PropertyGuru

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

Philippines

FlowersExpress
Online flower delivery site
- Acquired by IslandRose.net, terms undisclosed
- Announced 30th October 2011
- Started in 2005
More info: YugaTech

Chikka
Wireless application service provider, known for its instant messenger
- Acquired bySmart Communications  for PHP750M (US$16M)
- Announced 10th November, 2009
Source: YugaTech

Sulit.com.ph
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

Malaysia

Carlist.my
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, Entrepreneurs.my

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

Groupsmore
Daily deals site
- Acquired by Groupon, terms undisclosed
- Announced on 26th Jan 2011
- Started in 2010
More info: Entrepreneurs.my articles here and here

FullHouse.com.my
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

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

Thailand

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: SGE, 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: DailySocial.net, Wikipedia

Pagemodo
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

Tarad.com
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

Original image: nanquimvirtual

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