VIVAnews - Singapore-based East Ventures acquired some shares of Urbanesia.com, a lifestyle city directory based in web 2.0.
Despite the acquisition, two founders of Urbanesia.com, Selina Limman and Natali Ardianto, will still play a role in the company's operations. Batara Eto, a partner in East Ventures, will be an advisor at Urbanesia.com.
Batara Eto is former CTO and co-founder of Mixi.jp, the largest social network in Japan which has officially held an IPO at the Tokyo Stock Exchange in September 2006.
Since it was established, Urbanesia.com has recorded significant growth. The site has 200,000 directories in store.
"East Ventures is an investment firm on Internet startups with notable reputation. We're proud of joining the company and is recognized as one of its families," said Selinan, Urbanesia.com CEO and Managing Director, today, June 3.
Selina said the company saw the partnership as benefiting the two companies. "The investment will further contribute to Urbanesia.com whose vision is to become the largest directory in Indonesia using Indonesian local contents," she said.
Batara also claimed that he "believe that Urbanesia.com can grow as a leader in city directory website in Indonesia."
Neither Urbanesia nor East Ventures reveal the composition of the share ownership.
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