Silicon Valley’s Weeby.co snaps up Vietnam’s Tappy for a 7-digit sum

Vietnam’s social app Tappy has been acquired by the Silicon Valley cloud-based social games platform Weeby.co for an undisclosed seven-digit amount, through stock and cash.

Truong Thanh Thuy, founder of the Vietnamese app updated the information on her Linkedin profile, also revealing that she has joined Weeby.co team, a spinoff from Game Closure Inc.

Thuy is also the founder of Greengar, the first local startup that was invested in by the 500 Startups. Meanwhile, two other co-founders of Tappy, Leslie Ngan Nguyen and Thuc Vu, helped build Groupon, Box and Katango – which was acquired by Google in 2011.

Thuy said she had spent years creating at least 40 games and apps, adding that the mobile gaming business was “ridiculously hard” for a small game studios that had to compete with big companies.

“Weeby.co’s Producer (the US company’s new feature product) is exactly what smaller studios need — it’s a game changer of the industry. I’m very excited to be a part of bringing this product to the hands of developers and studios around Asia and globally,” she said in a statement.

“The team at Tappy are veteran operators in the Southeast Asia region. By acquiring Tappy and bringing on board the management team, we’re jumping forward half a decade in business and strategic partnerships,” said Weeby.co’s CEO Michael Carter.

Prior to this acquisition, Tappy had secured $200,000 from 500 Startups and several angel investors. It is a social app that transforms any location into a virtual online community where users can discover interesting people and relevant content.

The deal also sees the Mountain View, California-based company entering Asia.

Weeby.co reportedly raised a series A round of $12 million. The app allows users to create game engines, games, servers, graph data/matching algorithms, and developer and artist tools.

Related stories: 

Vietnam startup scene poised to take off as ecosystem comes together

Startup Review 2014: Vietnam tech firms find success, expand overseas

Vietnam’s incubator HATCH! launches angel investor network

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.