MyCube’s Black Ocean strategy
August 10, 2011 by Terence LEE
MyCube, a Singapore-based company that is developing the “world’s first Social Exchange”, has announced on August 8 that Black Ocean, the firm’s key investor, has obtained majority ownership after another round of funding (amount undisclosed).
This means changes to key management. Johan Stael von Holstein, MyCube’s co-founder, has stepped down as CEO but remains on the Board of Directors and as the company’s PR Ambassador. MyCube General Counsel Robert Tobias will become interim CEO while a replacement is sought.
Currently, MyCube is in private beta. It purports to allow users to own, control, and monetize their digital data. They are also four weeks into their Digital Life Academy internship program, where they pay 30 interns from around the world S$2,000 (US$1,647) each to discuss Internet business ideas and work on projects (more on MyCube here).
According to Crunchbase, Black Ocean is a “vertically integrated internet, media and technology holding company that creates, builds and invests into disruptive businesses based on new generation technologies.” With offices in Singapore, Moscow, Luxembourg, London, and New York, the company previously invested US$ 5 million in MyCube in May 2011.
About The Author
Terence LEE - Assistant Editor
Terence is an online media nut that is obsessed with writing and publishing for the Internet. Recently, he took up photography to expand his repertoire, and hopes to learn videography soon. He has worked in both online and print publications such as The Straits Times, Today, Mind Your Body, The Online Citizen, and Funkygrad. In 2010, he co-founded New Nation, a current affairs online magazine for young adults with a couple of like-minded folks. Terence can be found on LinkedIn and Twitter.
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