SG-based Shopmatic acquires Taiwan’s Ruby on Rails’ tech firm 5xRuby

Shopmatic founders Kris Chen, Anurag Avula and Yen Lim (from left to right)

Singapore-based e-commerce technology firm Shopmatic has acquired Taiwan’s Ruby on Rails’ technology firm 5xRuby for an undisclosed amount.

The acquisition will fuel Shopmatic’s international market expansion plans and help the company provide its customers a streamlined experience backed by the latest technology stack and a platform development team, the company said in a statement issued Thursday.

The acquisition is in line with expansion plans Shopmatic, which aims to target markets outside Singapore.

The Singapore-headquartered company currently has offices in Gurgaon and Bangalore in India.

Ruby on Rails or in simple Rails is a server-side web application framework written in Ruby under the MIT License. Rails is a model–view–controller framework, providing default structures for a database, a web service, and web pages.

Founded in 2014, 5xRuby has helped to build the Ruby developer community in Taiwan by being the lead evangelists for the region. The firm caters to high tech clients from Japan, Hong Kong & Taiwan developing web and mobile applications.

“This acquisition will not only enable us to strengthen our stance as the leading platform that enables businesses to go online, but also to scale and enter new markets at a faster pace. We welcome the 5xRuby team into the Shopmatic family and are excited with the opportunity of working with a world class development team,” said Shopmatic Group CEO Anurag Avula.

Founded by Eddie Kao, an expert Ruby / Rails and iOS App Developer, Mu-Fan Teng and Alice Chao are also the organizers of the Ruby Taiwan community, and speakers at various Ruby conferences across the globe.

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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.

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.