Singtel Innov8 raises stake in MassiveImpact to 48.9% for $1.5m

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Singtel Innov8 said it has bought an additional  4,51 million shares in MassiveImpact, a Taiwanese performance mobile advertising firm, for $1.5 million. The investment will see the venture capital arm of Singapore telecoms company Singtel Group, increase its stake in MassiveImpact by 30.2%.

Post the deal, Innov8’s stake in the Taiwanese firm will increase to 48.8% from 18.7 per cent currently. This will put the post-money valuation of MassiveImpact at $3.97 million.

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