Vietnamese social influencer platform Hiip has acquired BP Network, Indonesia’s largest female influencer network, as part of its expansion drive into the country, according to an announcement.
This acquisition makes Hiip the leading opinion leader platform in Southeast Asia with more than 10,000 influencers.
BP Network has been active in the social influencer space in Indonesia for more than two years. After the merger, BP Network will rebrand to Hiip Indonesia, according to Shintaries Nijerinda, co-founder and CEO, BP Network.
“Hiip Indonesia will expand our influencer marketing offering in almost all categories, segments & social networks,” said Phi Nguyen, co-founder and CEO of Hiip Asia.
“Our hope is to give more values to the existing local influencer ecosystem and provide more opportunities for influencers to connect with both international as well as important local brands,” she added.
Recently, the social influencer platform raised a seven-digit Series A financing round led by Thai venture capital firm Vnet Capital.
Japan Strategic Capital, Tokyo-listed marketing technology company Rentracks and Singapore-based Vulpes Investment Management also participated in the round.
Launched in Vietnam in 2016, the company has expanded to Thailand as its first overseas market.
Hiip said, it has worked with more than 500 brands and 6,000 influencers since its inception, claiming to have the highest client loyalty in the region with revenue doubling every six months.
BP Network runs hundreds of influencer marketing programmes in Indonesia. In 2017, BP Network received Government Incentive Assistance (BIP) from Bekraf.