SPH will have a one-third stake in the joint venture for S$980,000 (US$708,000)

[A previous version of the article stated that SPH will take a 33 per cent stake in RecomN Technologies. This is incorrect. SPH only owns a 33 per cent stake in the joint venture known as RecomN Singapore]

The Lion City media conglomerate, Singapore Press Holdings (SPH), has entered into a joint venture with the Malaysian company RecomN Technologies and will partner the startup to run its business directory site on a new webpage called Recommend.sg.

SPH took a 33.33 per cent stake in the RecomN Singapore for S$980,000 (US$708,000). The deal comprised of a cash payment of S$10,000 (US$7,200) and S$970,OOO (US$700,000) worth of “considerations in kind”.

The goal of the partnership is to move all of STDirectory onto Recommend.sg, which will be operated by RecomN.

“We wanted to work with a partner that is deeply entrenched in the lives of Singaporeans, and there is no better-known name than SPH,” said RecomN Co-founder and Singapore Country Manager Alex Tan in a statement.

“The team is entrepreneurial and dynamic, so we look forward to learning and working together with them.”

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The website helps people find servicing professionals. For example, the first advertisements when e27 visited the site were a host of catering services someone could book via the platform.

“When I first met the RecomN co-founders, I was impressed with their vision of transforming the services industry and their fast execution to become the market leader after 2 years,” said Julian Tan, Executive Vice President of the SPH Digital Division in a statement.

RecomN was founded in 2014 and received a US$1 million (US$723,000) investment from Gobi Partners. The company expanded its services to Thailand and Indonesia in 2015.

In Malaysia it runs Recommend.my, the Indonesian site is called Sejasa.com and the Thai website is Helpdee.com.

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The company says more than 20,000 people use the startup to find work.

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