PH based Xurpas invests $1m in US tech startup Quick.ly

Visual from the Xurpas website

Philippine-listed consumer technology firm Xurpas Inc, has invested almost $1 million in US-based startup Quick.ly that is working towards “reinventing search”. The deal marks Xurpas’ first investment outside of Asia.

Incorporated only last January 13, 2015 in the State of Delaware in the US, Quick.ly is an operating company of Idealab, a creator and operator of technology businesses, based in Pasadena, California. The American startup aims to get people to find what they are looking for more quickly.

Xurpas informed the stock exchange on Monday that it now holds a 4.5 per cent ownership of Quick.ly on a fully-diluted basis.

Xurpas purchased 666,666 shares of Series A Preferred Stock of Quick.ly at a purchase price of $1.50 per share for a total investment of $999,999.00, its communication to the stock exchange added.

Quick.ly is now the fifth company that Xurpas has invested in since the Filipino-founded startup’s initial public offering six months ago when it raised $30.4 million. Xurpas is the first listed startup in the Philippines.

Also read: Xurpas pushing SEA expansion, aims for more investments

Among Xurpas’ past acquisitions include Singapore-based Altitude Games, local HR-tech firm Storm Flex Systems, PT Sembilan Digital Investama, owner of Indonesian mobile content company Ninelives, and Singapore-based multiplayer games platform MatchMe.

“We are both proud and humbled to be an investor in Quick.ly,” said Xurpas CEO and president Nix Nolledo. “Xurpas has previously expressed its intention to aggressively expand throughout Southeast Asia, by introducing truly innovative products. This most recent investment into a company with unique, cutting edge technology from one of California’s hottest tech hubs furthers this goal.”

Xurpas’ last trading price was down by 1.78 per cent or P0.180 to close at P10.10

Also read: PH co Xurpas acquires Altitude Games for $740k

Xurpas invests $1.4m for 31.5% stake in Singapore’s MatchMe

Xurpas acquires Indonesian tech firm SDI

PH startup Xurpas acquires second tech firm Storm Flex Sys for $4.3m

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.

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.