Officially, SingTel‘s acquisition of HungryGoWhere for US$9.4M, Singapore’s number one food portal, was a few months in the making. Unofficially, the building blocks were being laid for three years.
The congenial work relationship between both HungryGoWhere and the InSing.com team was a key factor in the co-founders’ decision to join SingTel.
InSing.com is a lifestyle portal operated by the telecommunications company, covering food, shopping, events, travel, and more. Both sites’ food channels have a combined two million visitors a month.
“We know the people working in the inSing team. When they started off we actually helped with a couple of building blocks. So we know them from day one. The personal chemistry was there, and there was a high level of comfort,” said Yung Yih, who started HungryGoWhere, in a conference call between SGE and all three co-founders.
SingTel announced in a press release today that it is acquiring GTW Holdings, the owners of HungryGoWhere, Singapore’s most visited foodie site, for S$12M (US$9.4M).
The site, which was started in 2007, has a presence in Hong Kong, Malaysia, Vietnam, Cambodia, and Australia. Under the terms, GTW will become a wholly-owned subsidiary of SingTel. It will merge operations with inSing.com, another SingTel subsidiary with an audience of two million customers.
With the purchase, SingTel claims it has the largest food and lifestyle audience in the island state.
GTW’s Singapore-based founders will play a crucial role in growing SingTel’s services in Singapore and beyond. Read more