migme

migme
Type of business Public
Type of site
 Social entertainment platform, mobile digital, Social networking service, microblogging
Available in Multilingual
Headquarters [1], Singapore
Area served Global
Owner Steven Goh
Key people Steven Goh (CEO & Co-founder)
Industry Internet
Services Chat, Blog, Virtual Gifting, Games, Stickers
Employees 130
Website migme
Alexa rank

59884

(August 2016)[2]
Registration Required
Users 43 million monthly active users[3]
Launched December 2005 (2005-12)
Current status Active

migme Limited (formerly mig33) is a global digital media company focused on emerging markets. The company is registered in Australia and listed on the Australian Securities Exchange (ASX:MIG) on 11 August 2014. There is also a secondary listing on the Deutsche Borse (WKN: A117AB). The company was formed in Perth, Australia in 2006 and commenced operations under the name mig33. In 2014, it was rebranded migme (and underwent a product and corporate overhaul). FIH Mobile, a handset unit of Taiwanese consumer electronics group Hon Hai Precision, took a 19.9% stake in the company in 2014. Originally developed as a social chatting and gaming application for feature phones, migme has grown to become a mobile entertainment platform that services Southeast Asia, South Asia, the Middle East and Africa. The company headquarters are in Singapore with offices in Malaysia, Indonesia, Taiwan, Hong Kong and Australia. The company delivers social entertainment services through portfolio brands migme, LoveByte, alivenotdead and Sold.

History

migme was founded by Steven Goh and Mei Lin Ng in Perth, Australia in 2006 as mig33. In 2007, it shifted operations to Silicon Valley where it focused on developing its engineering and technology capabilities and secured new venture capital. During this time, it acquired significant users in emerging markets of South Asia, Southeast Asia, the Middle East and Africa.[4]

In 2012, it shifted its headquarters in Singapore to be closer to its key markets in Asia, including Indonesia, Nepal, India and Bangladesh.[5]

The firm develops applications for Android, WAP, BlackBerry and web platforms. It has also released applications on legacy J2ME-based devices. The product was developed using open-source systems, and features group chat, social gaming and blogging functions as well as virtual gifting.[6][7] Its revamped microblogging service, launched in 2013, enables users to post up to 300 characters.[6]

Rebrand, investment and listing

On June 10, 2014, the company changed its name to migme Limited, and acquired alivenotdead.com, a Hong Kong-based artist community website co-founded by Patrick Lee, former chief executive of film review site rottentomatoes.com.[4] Also in 2014, the firm completed a merger with Latin Gold Ltd., an Australian-listed mining company, which enabled migme to list on the Australian Stock Exchange by way of a reverse takeover, effective August 11, 2014.[4][6] In 2014, FIH Mobile (a Foxconn-linked handset company) became the migme's largest shareholder through a $9.6 million investment, giving it a 19.9% stake in the company.

On October 2014, the company acquired LoveByte, a mobile app enabling couples to communicate, share thoughts and remember precious moments.[8] LoveByte is headquartered in Singapore.

In January 2015, migme enters e-Commerce with acquisition of Sold.sg.[9] Sold is an online pay-to-bid auction house and e-commerce business where customers can bid and buy quality products at competitive prices. Sold operates in Singapore and Malaysia.

Migme currently operates offices in Singapore, Kuala Lumpur, Jakarta and Taipei.;[6][5]


References

  1. ↑ "mig33 moves to Singapore".
  2. ↑ "Mig33.com Site Info". Alexa Internet. Retrieved 4 February 2014.
  3. ↑ "QUARTERLY OPERATIONS UPDATE 30 July 2016" (PDF).
  4. 1 2 3 "Mig33 acquires Alivenotdead, a site started by Rotten Tomatoes founders". finance.yahoo.com. Retrieved August 10, 2014.
  5. 1 2 "Offices". mig,me. Retrieved August 10, 2014.
  6. 1 2 3 4 "Asian mobile chat startup Mig33 raises $2.2M, rebrands as MigMe". VentureBeat.com. Retrieved August 10, 2014.
  7. ↑ "Social Entertainment Platform". mig,me. Retrieved August 10, 2014.
  8. ↑ "Singapore's Migme buys LoveByte, enters apps for couples space". techinasia. Retrieved October 16, 2014.
  9. ↑ "migme acquires online entertainment shopping site Sold.sg". e27. Retrieved January 21, 2015.

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