Migme ramps-up Asian expansion
Listed Australian digital media firm, Migme has flagged its foray into Indonesia buying two firms in the fast-growing Asian market as it looks to further expand its social entertainment business beyond Australia.
Social news site Hipwee will become a key pillar in Migme’s nascent Asian business, providing a new channel to present content from the Australian company’s developers, while content from the Indonesian site will be delivered through Migme’s platforms in Australia and elsewhere.
Bought in a scrip deal, Hipwee has 16 staff providing curated and original community generated content, as well as 100 active contributors and six offline communities.
Founded by Lauri Lahi and Marlissa Dessy, Hipwee is based in Yogyakarta and Jakarta. The site describes itself as delivering curated original and community generated content based on entertainment, relationships and travel, all aimed as Indonesian ‘urbanites’.
Lahi will join Migme and continue to head the Hipwee business.
Migme said in a statement the acquisition would help provide a base for growing its business throughout South East Asia, in particular India and the Philippines where the company already has strong user communities. An English language version of Hipwee is also planned.
Migme will also acquire the assets of Indonesian e-commerce site Shopdeca in a cash and scrip deal. Shopdeca operates two websites (www.shopdeca.com and www.sportdeca.com) in addition to b2b channels delivering curated lifestyle products for Indonesian consumers.
Shopdeca founder, Andreas Thamrin, will join migme as Global Head of Ecommerce, charged with driving growth for Migme’s ecommerce business in Asia.
Shopedeca is Migme’s second ecommerce acquisition. In January this year, the Australian company bought Singapore-based penny auction firm Sold.sg, a company which ceased operations in 2013.
Migme CEO Steven Goh said the Shopdeca acquisition provided a launch pad for the company’s ecommerce operations in Indonesia while setting the framework for developing an ecommerce affiliate strategy.
“We’re gaining valuable local market expertise and we look forward to the acquisition being a positive contributor to group results in 2016.”