Is Acquiring Early-Stage Startups by Companies’ Wanting to Enter the Asian Market the Next Big Trend in Hong Kong?


There are a number of reasons why a company might want to buy a startup, whether it’s joining forces with the competition or absorbing the talent and the technology.

As for the Australia-based Crowd Mobile, buying one-year-old Hong Kong startup KissHugs was a part of their growth strategy. KissHugs had only started to build their user base and was prepping for their official launch in February when they were acquired. “We first launched in private beta in October, then in invitation beta in November for Hong Kong, Taipei and New York. We had over 10,000 users by the end of 2014 and planned to launch around mid February,” said co-founder Max Vung.

[Read more…]

Hong Kong File Sharing Social Network ‘,’ That Offers Unlimited Cloud Storage, Raises a US $500,000 Seed Round

Cloud storage startup, creators of the first social network for file sharing, has raised a seed round of US $500,000. The funding news also signifies the Hong Kong startup’s move out of beta and they’ll be using the capital to build out their product and their San Francisco-based team.

Hong Kong startup support and investment platform Bigcolors headed up the deal, with German cloud-based DDoS-mitigation service provider Link11 GmbH also contributing to the round. Co-founder and CEO Thierry Lehartel said in a release that Bigcolors and Link11 GmbH are perfect strategic partners as they’re not only able to support the backend of the Hive social network, but can also help speed up global expansion plans.

[Read more…]

Hong Kong’s Bigcolors Acquires Australian Startup GetViable to Help Founders Validate Their Ideas


Crowdfunding for equity platform Bigcolors has just acquired Melbourne-based startup GetViable for an undisclosed amount. With offices in Hong Kong and the US, GetViable is a business idea incubator that helps founders move towards the validation stage by offering a suite of tools and resources.

The acquisition will expand Bigcolors’ investment offerings, which currently includes deal sourcing and seed investment, to include services such as MVP set up, mentorship, pitch deck and business planning. Besides the complementary support services that GetViable offers, the two-year-old Australian startup also comes with a loyal global customer base of 2,000+ founders.

Since Bigcolors backs very early stage and pre-seed startups, added support from GetViable could lend a hand to those startups seeking funding; but aren’t quite investor-ready.

[Read more…]