Today we have some acquisition news from Bitsmedia and Rappio, a scholarship announcement from Bukalapak, and a warning from LTA
Image Credit: James Pond on Unsplash.
Helpling raises funding from Unilever Ventures
Online marketplace for household services Helpling today announced that it has raised an undisclosed funding round from Unilever Ventures, venture capital and private equity arm of consumer goods giant Unilever.
The startup will use the majority of the investment for technical product development, as it plans to increase the automation of the platform.
“The investment by Unilever comes as Helpling looks to include home care products in its offering for an even more convenient consumer experience. The two companies will explore further strategic partnerships as Helpling continues to drive the online shift of household services,” the company said in a press statement.
Prior to the investment, Unilever and Helpling have had multiple strategic partnership that includes co-branded marketing campaigns, in-store co-operation and content development; and distribution of home care products to Helpling customers in countries such as the UK, France, Singapore, and the Netherlands.
Fork Media acquires digital audio advertising startup Rappio Advertising
Mumbai-based digital adtech company Fork Media announced on Tuesday that it has acquired a majority stake digital audio advertising startup Rappio Advertising.
Following the acquisition, Rappio co-founder Nirav Shah will head the business division within Fork Media as CEO and Founder of Rappio.
The startup will also operate out of Fork Media’s headquarters in Mumbai and will leverage its sales and technology teams.
Founded in 2016, Rappio is a platform that enables brands to use their audio advertising formats (jingles, promos, announcement, etcetera) to be played back as ringtones on end-user smartphones. Smartphone users can select from a variety of “ad ringtones” and will be incentivised each time their phone rings playing out a tune.
As for Fork Media, it offers native advertising and premium advertising products that are integrated to top tier publishers in India, UAE, Indonesia and Singapore.
With the acquisition, it plans to introduce audio-based advertising at scale using its inventory of premium publishers and create “new avenues” for brands.
CMIA Capital Partners, Affin Hwang Asset Management acquire Bitsmedia
Singapore-based private equity firm CMIA Capital Partners, in partnership with Affin Hwang Asset Management (AHAM), announced on Tuesday the acquisition of a majority stake in Bitsmedia, The Star reported.
The combined stake purchased by CMIA and AHAM is “about 90 per cent” though the value was undisclosed.
Bitsmedia is widely known as the producer of the Muslim Pro app, which helps Muslims to discover accurate prayer times and qibla directions, calculate zakat, read the Quran online, and participate in a community forum.
The app is said to have secured 45 million downloads, “more than” 10 million monthly average users, and “more than” two million daily average users.
“Bitsmedia is a highly profitable business, with current earnings primarily derived from digital advertising and paid upgrades. We are open to exploring win-win business partnerships with other organisations and digital businesses,” said CMIA managing partner Lee Chong Min.
Singapore’s land transport authority bans taxi drivers, private-hire drivers from doing courier jobs
The Singapore land transportation authority (LTA) told The Strait Times on Tuesday that taxi drivers and private-hire drivers are not allowed to be courier or deliverymen for goods if there is no passenger on board.
However, the LTA spokesperson was unable to comment immediately on the penalties for the infringement, and if anyone has been taken to task yet.
The statement follows a statement from taxi company ComfortDelGro, saying that its drivers have taken jobs to deliver goods from e-commerce giant Amazon Prime, which had recently entered the Singapore market.
Despite the company stressing that the goods have always been accompanied by a passenger, several taxi drivers admitted to have taken courier jobs from the platform, citing “slow” business as the reason.
Amazon did not respond to request for comments.
Bukalapak announces 7 recipients of its scholarship programme
Indonesian e-commerce platform Bukalapak announced the seven university students who are set to receive the annual BukaBeasiswa scholarship programme.
The students are Alson Cahyadi (Bandung Institute of Technology, ITB), Azka Hanif Imtiyaz (ITB), Dede Kiswanto (Telkom University), Prabu Dzaky Yoga Pradana (Sepuluh November Institute of Technology, ITS), Naufal Malik Rabbani (ITB), Febrian Wilson (Multimedia Nusantara University), and Satria Hafizh Rizkitama Harsono (Telkom University).
BukaBeasiswa scholarship recipients pose at Bukalapak HQ. Image Credit: Bukalapak
First launched in 2016, the programme targets university students majoring in informatics engineering, information systems, computer science, electrical engineering, and other majors that “includes programming as a subject.”
The students are set to receive a year worth of tuition fee and stipend.
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