In the midst of delivering the latest updates from Asia’s busy industry, business news platformDealStreetAsia now takes the turn to share their own good news: they are joining forces with the world’s leading global business publication Nikkei Inc., the Japanese media firm behind The Financial Times.
Launched in late 2014 with a big ambition of becoming the daily homepage of Asian investors and business community, DealStreetAsia hasbecomethelargestnichemediaof its type in terms of editorial content in the region, and has added tremendous value to their readers whom can make informed decisions armed with intelligence of frontier and emerging markets.
With a team of 20 people across the region, DealStreetAsia publishes original reporting and analysis that have become quite a guide for industry players. DealStreetAsia currently has 500,000 page views with 200,000 unique visitors per month on average. Last year, they shifted their focus from pageviews to paying customers through their subscription-based service to provide richer and deeper content for the readers.
The company also holds their annual PE-VC Summits, now in Singapore and Jakarta, the largest sector-agnostic and the only editorial-led private equity and venture capital conference in the region.
“Joining forces with Nikkei will help us accelerate our mission of helping the PE-VC industry and dealmakers understand the changing megatrends in this space. As we expand our reportage across Asia, we look forward to greater collaboration acrossNikkei’spublicationsandgroup of companies such as the FT, Nikkei Asia Review and scoutAsia,” says Joji.
Nikkei acquired the stake of the Singapore-headquartered financial news startup by buying out existing shareholders, including SPH Ventures, North Base Media, Alpha JWC, Ozi Amanat’s K2 VC, and SGAN.
The acquisition also marks Alpha JWC Ventures’ second exit in the first fund, after the acquisition of shared workplace network Spacemob in 2017.
The firm first invested in DealStreetAsia in January 2018 for its Series A. Within a year, DealStreetAsia has shown significant growth in content, subscription, and reach, and the company’s journey is now changing its course with the acquisition.
“Media has been one of our vertical focus and we are excited to see that our investment thesis worked out by looking at this acquisition. We believe that there will be more opportunities in this sector and we are delighted we can take part in DealStreetAsia’s journey and helped in creating values both to the companies and also to the shareholders,” says Alpha JWC Ventures Managing Partner Jefrey Joe.
“More than just about the good investment result, we are mostly happy that Joji’s vision of high-quality and accountable journalism has found a new, bigger home with Financial Times. We’ll be expecting more great articles and breakthrough from his team going forward!”
Learn more about DealStreetAsia here.