Major Announcement: Acquisition of SGEntrepreneurs by TechCrunch for US$50K
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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32 Comments, Comment or Ping
NTT
On 1st of April?? Riiight.. :p
Apr 1st, 2008
Ridz
Awesome! Congratz guys!
Apr 1st, 2008
Miccheng
Woah… congratulations! This is gotta be good! Its really a natural fit. Great job!
Miccheng
Apr 1st, 2008
Bing
Congratulations, SGEntrepreneurs!
Apr 1st, 2008
sriram
April fools!! :)
Apr 1st, 2008
DK
Woohoo!! That is great news. Congrats.
So you treating us dinner soon? :D
Apr 1st, 2008
Veron
Wow! I am really impressed. Congratulations! Looking forward to hearing more about the details soon.
Apr 1st, 2008
encikwan
Congrats. I used to have the impression that SGE is related to government. Silly me :)
Apr 1st, 2008
Leonard
How exactly does this deal work? Can you just leave it to TC to run SGE or are you contracted to keep blogging?
Apr 1st, 2008
Kevin
$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…
Apr 1st, 2008
Kevin
Also, “tu me casses les couilles”.
Apr 1st, 2008
Richad
That is a great news for Singapore Blog and Tech Community!
Congratulations - though it is bit low…lah!!
Apr 1st, 2008
T
If you want to come out with an April Fool’s Joke, Come up with a better one
Apr 1st, 2008
encikwan
Wait, is this April Fool’s joke?
Apr 1st, 2008
Hun Boon
heh looks like only Kevin saw it coming.
Happy April Fool’s!
Apr 1st, 2008
Ian Timothy
That means now you have money to hire the hot secretary you always wanted!
Apr 1st, 2008
inspir3d
what will happen to the founders/writers of SGE?
Apr 1st, 2008
Chin Yong
Very good news. I believe the move will surely benefit local startups.
Apr 1st, 2008
cobaltpaladin
Er… guys? Can you all check your calendar? :p
Apr 1st, 2008
inspir3d
its not good enough to look at the money… need to evaluate the roles & the terms given to the founders & writers of the blog
Apr 1st, 2008
BL
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!
Apr 1st, 2008
brian
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 -)
Apr 1st, 2008
malique
wow 50K is a small amount!
Apr 1st, 2008
Ron of Somali Web Design
Surely a April Fool Prank!
Nice One:)
Apr 2nd, 2008
APLINK
hahahahahahahahhhhhhahahahahahahaaaaaaaaaahahahahahahahaahahahahahahahhaa !!!! Now i know why people believe everything they read in the media !!
Apr 2nd, 2008
Nicholas
Pretty funny. Very cheap. Would have been better at 500k.
Apr 2nd, 2008
Nicholas
I always avoid putting out press releases on April 1st.
Apr 2nd, 2008
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