migme invests $400k in MatchMe, doubles users

migme team, visual from company website

Singapore and Indonesia based social entertainment platform migme Limited Thursday announced an investment of $400k into regional games platform developer MatchMe Pte Ltd through a convertible note.

Migme also said it had more then double its active monthly users within the last six months to over nine million at present.

MatchMe is headquartered in Singapore and has a development team in Hungary.

The investment will help MatchMe and other developers to use migme’s newly launched application programming interface (API) for developers and take advantage of a growing pre-install user base, audience-building activities with media partners and localised payment options.

Put simply, the deal will see MatchMe  use this API for its competitive gaming and tournament-style games. About six games will start beta testing for delivery into the migme service later this month.

In October, migme had bought out its smaller local competitor LoveByte, but had not disclose the deal terms. Lovebyte launched in 2012, had got investments from Ruvento Ventures and Crystal Horse Investments.

With the API, Migme has added a single login for recently acquired couple’s app LoveByte and will add games and apps from Night Spade Mobile Game Studio and TweenSoft, the company said in a statement.

The company also indicated that more deals and partnership are set to be announced in 2015.

Said migme CEO Steven Goh  : “We’re excited with both the launch of the developer program and our investment in MatchMe. Games are a great way for migme to drive user engagement and monetisation, which increases shareholder value.”

“We’re unique in that all our partners, be they handset manufacturers, recording artists, payment services or app and games developers, share financially in helping us to build a distinct proposition for social media users in emerging markets.”

MatchMe Co-CEO, Hal Bame said: “We are pleased to bring our crossplatform, multi-player games to the migme platform in various exciting tournament-style formats, as we continue to grow our game content portfolio. We look forward to further collaboration in 2015.”

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.