Regional media startup Tech In Asia is close to elevating as a lot as $ 6 million in new funding, three sources with data of the round told TechCrunch.
Singapore-based totally Tech In Asia’s most recent elevate was once a $ four million collection C that closed in June 2015, earlier funding prior to that was once undisclosed. The website was one of the most first to cover tech and startup news throughout Asia considering that its inception in 2009, but it may be eventually in quest of an exit. Two sources indicated that the company solicited (and entertained) acquisition offers whilst it was once out elevating this time round. ultimately, it didn’t discover a match with a suitor and subsequently is taking up this new capital, as a way to maintain it impartial.
Tech In Asia founder and CEO Willis Wee declined to comment for this story.
information of this round follows restructuring at Tech In Asia which saw it slim down its center of attention on India with the aid of letting team of workers go and canceling up to now scheduled conferences within the usa, as Medianama said. whereas it did lose headcount in India, Tech In Asia is hiring for 14 positions across Southeast Asia — including editorial roles in Singapore and Indonesia — the place its event industry is each more dependent and extra moneymaking.
In total, Tech In Asia has close to 100 group of workers, most of whom are primarily based in Southeast Asia, with offices in Singapore, Jakarta and Tokyo. On editorial, it has newshounds in a variety of nations together with Japan, China, Singapore, India, the Philippines, and Indonesia.
Like most media firms — together with TechCrunch — it specializes in events to usher in a large chunk of revenue, but Tech In Asia has additionally explored other options.
after we lined its series C round in 2015, Tech In Asia was once gearing as much as push itself into the data and analytics business via TechList, an Asia-centric take on services like Crunchbase and CB Insights which graduated Y Combinator. TechList has due to the fact been integrated into Tech In Asia itself, where it showcases knowledge and offers analytics for paying subscribers, however it’s no longer the big center of attention. That has shifted to recruitment.
the corporate is hoping that its position as a media site serving the tech business throughout Asia — and in in particular Southeast Asia — can translate to the go-to platform to attach job seekers and employers. The website launched its recruitment business in could 2016 and it claims big names like facebook, Uber and Garena as clients.
in other places, it makes money from native merchandising — content written like editorial however equipped by way of sponsors — since it ceased exhibiting conventional advertising on its website online some time ago.
Tech In Asia’s primary competitors in the regional media landscape embody E27 and Deal street Asia.
E27 competes extra instantly thru its Echelon occasions industry, nevertheless it has gone thru some challenging instances of late. It raised $ 2.2 million final 12 months, but months previous had been forced to put off a lot of its staff because of restructuring.
Deal street Asia, meanwhile, is more latest arrival to Southeast Asia, and it takes a broader center of attention on news round financing and capital beyond simply tech. The three-year-previous company raised an undisclosed seed investment in late 2015, which integrated cash from Hindustan times, an India-based totally media group that runs Mint and MintAsia amongst other news companies. Deal side road Asia is currently in talks to shut new financing, according to a source with knowledge of its plans.
Fundings & Exits – TechCrunch