Local startup Moovaz announced today (4 June) its agreement to acquire Singapore Press Holding (SPH)’s expat publication, The Finder.
Calling itself a “global human mobility company”, Moovaz is a one-stop platform that provides relocation services for people moving abroad from Singapore or vice versa.
The startup also recently announced its US$7 million Series A funding, which supports its plans to expand into new markets like Hong Kong, Australia and China.
With the addition of The Finder, Moovaz will also be able to offer online and offline content and strengthen community-building among its customers.
Together, the two brands will build an ecosystem of end-to-end logistic and lifestyle services, catered to the modern global-local consumer, as they relocate globally and settle into local communities.Moovaz
In this agreement, SPH will also become a shareholder of Moovaz and collaborate on the latter’s regional outreach efforts through its media platforms.
The Finder is Singapore’s longest-running publication for expats, with over 300,000 users made up of expatriates and “internationally-minded Singaporeans”. It provides readers with tips, ideas and inspiration of what to do and buy and where to go in Singapore and around the region.
“We are ecstatic to be able to partner together with The Finder to help our clients not just move well, but also live well,” said Moovaz co-founder and CEO Lee Junxian.
Lee was the one who made the first move in the deal, as he was seeking a way for Moovaz to build a community among its clients.
“With that in mind, we started conducting research into the market and identified a few brands we could potentially partner with.”
“What struck us the most about The Finder is how authentically its brand and content has resonated with this community for the past quarter of a century,” he said.
Sharing his experience with Vulcan Post, Lee explained that taking on negotiations with a “large blue chip listed company” was unavoidably a thorough process.
This involved talks with people across various departments, including The Finder’s editor-in-chief Sara Lyle Bow and SPH’s chief of digital business Julian Tan.
“We managed to navigate the numerous requirements with the help of Kevin from SPH Ventures who has been tirelessly working to facilitate processes on both ends,” he added.
The acquisition will see Moovaz taking over The Finder’s quarterly print and digital magazines, and The Finder Kids magazines, web content and social media in Singapore and Malaysia.
Sara Bow, who was been with The Finder since 2015, will move over with the brand as its Director and Moovaz’s new Head of Community.
One of the first activities The Finder and Moovaz will embark on together is hosting the first ‘Expatpreneur eAwards’ in July 2020, to honour successful expat-owned businesses who help people live well in Singapore.
Featured Image Credit: Moovaz / The Finder