Meet GRVTY Media! They've just gotten acquired by Towerhill, the investment vehicle of Kiat Lim, son of Singaporean billionaire Peter Lim.

#JustGotAcquired. Towerhill acquired a majority stake in the company. While the amount's hush-hush too, part of the deal includes cash to boost GRVTY's growth.

• The founders will still retain control of the company, and the operations and platforms will operate as usual.

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😎 Who's the buyer?

Kiat Lim operates multiple businesses, including Thomson Medical Group (and its digital platform Thomson X), a private NFT community called ARC and a digital football platform (aka, "footballverse") called zujuGP.

• No stranger to acquisitions. zujuGP acquired gamification startup Tokigames early this year.
• GRVTY worked closely with Kiat to support his various businesses with GRVTY's media and agency capabilities.

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📰 Who's GRVTY?

GRVTY Media is a Singapore-founded media company that operates written, audio and video platforms across Singapore and Malaysia.

• They run Vulcan Post, Millennials of Singapore, The Daily Ketchup and Discover KL. Plus, they have an e-commerce platform called VP Label.
• While profitable, they struggled to scale because of high receivables, which made them wait months for payments.

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🚀 Next up

With the new cash, they're now looking to scale the company through expansion and new hires.

• Zooming out. This adds another name to the very short list of online media platforms in Southeast Asia that have exited.