Inside the ‘shotgun’ merger of rival apps backed by AirTree, Hemmes

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 90%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The merger Mr Yum and me&u is the highest profile example so far of a growing wave of consolidation across the start-up sector, industry insiders and investors say.

u spent months jostling over who would get more of their money back if things were to go poorly for the companies that merged last week.

Mr Yum co-founder Kim Teo is chief executive of the merged entity while Stevan Premutico of me&u will be a non-executive board director.u just the most prominent of a run of mergers and sales that includes fitness app Steppen, delivery company Drive Yello, cafe-ordering app Hey You and ordering company Ordermentum.

The union between the two rivals took several months to complete, with insiders pointing to the squabbling over which parties would share the pain of dilution: venture investors for both companies or the founders.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines