Photo credit: gmast3r / 123RF.
Vietnam-based online video startup Big Cat Entertainment has been acquired by Asia Innovations Group (AIG), a mobile internet company developing social and entertainment products.
The terms of the deal are undisclosed. Tech in Asia understands the deal value is in the seven digits and in both cash and shares.
Vietnam-based Big Cat was founded in 2015 by three former high school classmates who decided to start a company together after reuniting. The team had experience in music video production, online marketing, and ecommerce with stints at, among others, Facebook Vietnam and Catcha Group. The label is best known for YouTube channels like Ghiền Mì Gõ, FapTV, and Phim Cầp 3.
Big Cat says it was profitable within three months of starting out.
The company’s current productions will continue under AIG, co-founder Johnny Tri Dung tells Tech in Asia. The founders will also stay on “and work hard to get our regional goal accomplished,” he says.
Big Cat has hit revenue of US$1.2 million this year, Johnny says, and was profitable within three months of starting out. The startup hasn’t raised any external funding.
AIG can help the company scale up and bring its offerings outside of Vietnam, Johnny explains. AIG has offices in China, Taiwan, Vietnam, the Middle East, and Japan. “The group already has insights on other local markets, which definitely helps. In addition, their advice on finance and experiences from AIG’s founding members will surely be a big bonus to Big Cat to win this content game,” he adds.
“AIG’s mission is to build the world’s most innovative social and online entertainment platform,” AIG co-founder Andy Tian tells Tech in Asia. “Great entertainment content is therefore a crucial piece of the pie.”
This post Successful online video network bought by Asia Innovations Group to scale out of Vietnam appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/big-cat-entertainment-asia-innovations-group-acquisition
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