The Inquisitr » ABS-CBN http://www.inquisitr.com The Better Mix Mon, 13 Feb 2012 14:21:52 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Philippines media giant takes stake in Multiply http://www.inquisitr.com/8706/philippines-media-giant-takes-stake-in-multiply/ http://www.inquisitr.com/8706/philippines-media-giant-takes-stake-in-multiply/#comments Tue, 18 Nov 2008 00:49:36 +0000 Duncan Riley http://www.inquisitr.com/?p=8706 ABS-CBN Broadcasting Corporation, the largest integrated media and entertainment company in the Philippines has acquired a 5% stake in social networking site Multiply. The 5% stake worth a neat $5 million comes with a stock purchase agreement that ABS-CBN Global may, during the two-year period following the initial purchase of shares, acquire additional shares in [...]

Philippines media giant takes stake in Multiply is a post from: The Inquisitr




]]> ABS-CBN Broadcasting Corporation, the largest integrated media and entertainment company in the Philippines has acquired a 5% stake in social networking site Multiply.

The 5% stake worth a neat $5 million comes with a stock purchase agreement that ABS-CBN Global may, during the two-year period following the initial purchase of shares, acquire additional shares in Multiply to bring its ownership to as much as 10%.

Although Multiply doesn’t get a lot of attention in the United States, the company has become one of the biggest social networking sites in Asia, ranking as the 6th most popular site in the Philippines according to Alexa, and top 30 in Indonesia and Thailand.

Multiply has taken $21.6 million over three rounds from Point Judith Capital, Trans Cosmos and VantagePoint Venture Partners.

The full release here.

Multiply

Philippines media giant takes stake in Multiply is a post from: The Inquisitr

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