03 Apr '13, 3pm

Singapore Startup BillPin Acquires Larger Rival BillMonk

It’s not too often that an acquisition happens around here – even less so do we see a startup snap up a larger rival. But that’s what happened today. The Singapore team behind BillPin , the app that helps friends split bills and keep track of group expenses and friendly lending, has acquired its more established competitor BillMonk . BillMonk itself was bought by Obopay in 2007, so today’s deal sees the service changing hands again. The financial terms of the deal aren’t being disclosed, but BillPin co-founder Darius Cheung (disclosure: he’s an occasional guest writer of ours) explained to us how the deal went down: We caught a perfect window of opportunity to do this and we negotiated hard, and as a result we picked up BillMonk for a very, very reasonable price. That’s surprising as BillPin has only been around for about six months. He added: Other than a S$50,000 governm...

Full article: http://www.techinasia.com/billpin-acquires-billmonk/

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