Singapore-headquartered web products & digital services company TO THE NEW is consolidating 4 of its digital services businesses – Tangerine Digital, IntelliGrape Software, Ignitee Digital and Techsailor – to form TO THE NEW Digital. All four companies had been acquired by TO THE NEW over the past few years. Fashion and lifestyle e-commerce company American Swan, YouTube MCN #fame, social media analytics platform ThoughtBuzz and blogging platform Blogmint are a part of TO THE NEW Group.
It’s worth noting that TO THE NEW Ventures had invested $10 million in #fame, in January this year. It had previously invested $3 million in the company in early 2014. The startup had planned to use the funds to scale up its digital video business, invest in emerging talent, invest in new technology and expand to other countries in Asia, including Indonesia, Singapore, Thailand, Malaysia and Philippines.
To The New Acquisitions
– Delhi-based Tangerine Digital is a content management company that was acquired by TO THE NEW in early 2011. Tangerine Digital created and managed content for the web, mobile and social media platforms.
– Web and mobile applications development company IntelliGrape, which is also Delhi-based, was acquired in December 2011.
– Mumbai-based digital marketing services company Ignitee Digital was acquired in 2012, and Techsailor was acquired in 2013. IntelliGrape CEO & co-founder Deepak Mittal has been appointed the CEO of TO THE NEW Digital.
Following this consolidation, the company claims that TO THE NEW Digital has over 300 clients spread across 30 countries. Some its clients include Viacom 18, Toyota, Canon, Time Warner Cable, Sony, Procter & Gamble, Castrol, Airbus, Citi Bank, Samsonite and Mat.se.
TO THE NEW has offices in 6 countries, including India, China, Malaysia, Indonesia and Philippines, besides Singapore. Their Sweden office is expected to be operational within the first half of this year.
Back in June 2014, TO THE NEW had partnered with Getit Infomedia* to launch a new startup market access platform called ScaleIQ. This platform was expected to provide startups with access to services and applications such as mobile technology, analytics, marketing technology, video technology and social media.
Reminds us of Rocket Internet
In the past, Rocket Internet has similarly merged companies under its umbrella with a common focus into a single entity:
– In September last year, Indian e-commerce company Jabong was merged with other emerging markets focused fashion e-commerce brands, including Dafiti (Latin America), Lamoda (Russia & CIS), Namshi (Middle East) and Zalora (South East Asia & Australia), to form Global Fashion Group (GFG) by Rocket Internet and its investor Kinnevik.
– Similarly, in February this year, Rocket Internet formed the Global Online Takeaway Group, which comprises of all the online food delivery companies that Rocket Internet has a stake in, including FoodPanda.
Image Credit: TO THE NEW
*Disclaimer: Getit Infomedia owned AskMe is an advertiser with MediaNama.