Major Announcement: Acquisition of SGEntrepreneurs by TechCrunch for US$50K
April 1, 2008 by SGEntrepreneurs
Filed under Announcements
Press Release - After a few months of intense negotiation, TechCrunch, the famous Silicon Valley blog on web start-ups has reached an agreement with the founders of SGEntrepreneurs.com for a major takeover of US$50K in the next couple of months. The acquisition is a move by TechCrunch to continue their rapid expansion into Southeast Asia. Within two and half years with half a million of page views and quarter of a million in unique visitors, the blog has already extended its reach beyond the shores of Singapore and adapted web startups as their focus. The blog has attracted 40% of the foreign market mainly from the other countries. The SGE blog has extensive contacts with web 2.0 start-ups and venture capital groups in both China and India that provided the incentive for a possible acquisition. The founders will stay in the blog and continue to ramp up the operations of the blog by setting up offices in Asean countries and also a TechCrunch Asia conference in Singapore at the end of 2008. Mike Arrington, the founder of TechCrunch believed that this is a match made in heaven between both blogs. He was impressed with Singapore’s current efforts in IDM, particularly, the rapping video that took the government officials in the Media Development Authority of Singapore to fame. He cited the strong support of the government and the rise of interesting internet start-ups in Singapore as reasons to why this acquisition has been done. More details will be released in the next couple of days.
Editor’s Note: It’s an April Fool’s day joke from the SGE Editorial Team. :)
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NTT on Tue, 1st Apr 2008 1:23 am
On 1st of April?? Riiight.. :p
Ridz on Tue, 1st Apr 2008 1:27 am
Awesome! Congratz guys!
Miccheng on Tue, 1st Apr 2008 1:31 am
Woah… congratulations! This is gotta be good! Its really a natural fit. Great job!
Miccheng
Bing on Tue, 1st Apr 2008 1:56 am
Congratulations, SGEntrepreneurs!
sriram on Tue, 1st Apr 2008 3:03 am
April fools!! :)
DK on Tue, 1st Apr 2008 3:12 am
Woohoo!! That is great news. Congrats.
So you treating us dinner soon? :D
Veron on Tue, 1st Apr 2008 4:50 am
Wow! I am really impressed. Congratulations! Looking forward to hearing more about the details soon.
encikwan on Tue, 1st Apr 2008 6:02 am
Congrats. I used to have the impression that SGE is related to government. Silly me :)
Leonard on Tue, 1st Apr 2008 6:12 am
How exactly does this deal work? Can you just leave it to TC to run SGE or are you contracted to keep blogging?
Kevin on Tue, 1st Apr 2008 8:36 am
$50k is undervalued. Being so low actually puts your team in a precarious position. To understand how risky this is, be sure to look at this…
Kevin on Tue, 1st Apr 2008 8:56 am
Also, “tu me casses les couilles”.
Richad on Tue, 1st Apr 2008 9:12 am
That is a great news for Singapore Blog and Tech Community!
Congratulations - though it is bit low…lah!!
T on Tue, 1st Apr 2008 9:19 am
If you want to come out with an April Fool’s Joke, Come up with a better one
encikwan on Tue, 1st Apr 2008 9:27 am
Wait, is this April Fool’s joke?
Hun Boon on Tue, 1st Apr 2008 9:37 am
heh looks like only Kevin saw it coming.
Happy April Fool’s!
Ian Timothy on Tue, 1st Apr 2008 10:05 am
That means now you have money to hire the hot secretary you always wanted!
inspir3d on Tue, 1st Apr 2008 10:08 am
what will happen to the founders/writers of SGE?
Chin Yong on Tue, 1st Apr 2008 10:16 am
Very good news. I believe the move will surely benefit local startups.
cobaltpaladin on Tue, 1st Apr 2008 10:39 am
Er… guys? Can you all check your calendar? :p
inspir3d on Tue, 1st Apr 2008 10:50 am
its not good enough to look at the money… need to evaluate the roles & the terms given to the founders & writers of the blog
Any role of practical joke in business relationship building? » encik wan on Tue, 1st Apr 2008 11:16 am
[...] editor of sgentrepreneurs.com, a blog for Singapore entrepreneurs, has posted an entry that it is being sold to Techcrunch, a US-based technology and startup blog, for USD 50,000. At [...]
BL on Tue, 1st Apr 2008 12:09 pm
Hi everyone,
Thanks for the comments, particularly those (Miccheng, DK, Ridzuan) who helped us to make believe this interesting news on 1st April. We also hold the comments so that the joke would not come out so soon, but now we are publishing them all. :)
Leonard: If there is such an acquisition, we will just see the terms and see if we want to proceed on, and besides, thought the TechCrunch conference thing might caught some eye. :)
Btw, TechCrunch is notified of the joke. Too bad that they did not play along with us.
Meanwhile, have a great and funny April Fool’s day!
brian on Tue, 1st Apr 2008 12:32 pm
i guess this comes from working in the media industry for about a year. i really thought it was true because of the words “press release” in bold.
biased as certain media may be, they will never post mis-facts of this magnitude, april fools day or not.
haha, i can take a joke, and i still look up to sgentrpreneurs to give good insights into our community here, though i will be more wary the next time i see “press release” typed on the blog -)
malique on Tue, 1st Apr 2008 11:02 pm
wow 50K is a small amount!
Claud Talking » Blog Archive » April's Fool Online on Wed, 2nd Apr 2008 12:02 am
[...] many bloggers and even google pulled out something from the hat and caused everyone to get excited. It’s [...]
Ron of Somali Web Design on Wed, 2nd Apr 2008 12:30 am
Surely a April Fool Prank!
Nice One:)
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[...] by topping BlogTycoon Mike ‘Got Splashed With Latte By Facebook Kids‘ Arrington’s offer to buy SgEntrepreneurs by [...]
APLINK on Wed, 2nd Apr 2008 7:14 am
hahahahahahahahhhhhhahahahahahahaaaaaaaaaahahahahahahahaahahahahahahahhaa !!!! Now i know why people believe everything they read in the media !!
Nicholas on Wed, 2nd Apr 2008 6:21 pm
Pretty funny. Very cheap. Would have been better at 500k.
Nicholas on Wed, 2nd Apr 2008 6:23 pm
I always avoid putting out press releases on April 1st.
words | gwendolyntan on Sun, 6th Apr 2008 5:38 am
[...] it’s okay, we April Fooled many too. [...]
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