KapanLagi Group Acquires Fimela Group
Upstage at Forbes Indonesia’s event: Media and Digital Forum in Grand Hyatt Jakarta, Steve Christian, CEO and co-founder of KapanLagi group announced (the word that he chose is “merged”) with Fimela Group. Both parties doesn’t specify into numbers or any details.
KapanLagi group is celebrating its 11th year anniversary this year and has in fact built an integrated media group with portfolio such as: KapanLagi.com, Merdeka.com (news portal), Bola.net (soccer site), Vemale.com (women site), and Otosia.com (automotive site) - for an extensive post about KapanLagi, see TechinAsia. While Fimela group has three sites including Fimela.com, Muvila.com (movie site), and Sooperboy.com (men site). With this announcement, all Fimela Group’s sites will be under KapanLagi group.
Steve Christian said on stage that its portfolio actually addresses mass market and low to middle class but Fimela Group (especially Fimela.com) has upper class as its target market and it’s only natural for the two groups to join power and provide advertisers or brands a full and integrated media offering.
It is always good to see more and more consolidations or M&A at this side of the region where we are losing (by far) if compared to Singapore (Viki, for example) and Malaysia (Jobstreet, the latest one) where in both market they have more than $100 million exit. Congratulations to the KapanLagi and Fimela Group.