Young On Top Invests in Hipwee, Kejora Takes Ownership of Migme

PT YOT Inspirasi Nusantara (Young On Top - YOT) today (13/8) announced its investment in the online media platform Hipwee. There is no mention of the details and the amount of the investment given. YOT Founder & CEO Billy Boen said the similarities values the two companies behind the strategic decision, in addition to being the beginning of exploring cooperation with startups under the auspices of the YOT group.

Previously known, Hipwee was acquired by Migme in 2015. However, some time later, the shares were taken over by Kejora Ventures. YOT entered to acquire Kejora's share ownership in Hipwee.

Together with the entry of YOT into the ranks shareholders, Alexander Zulkarnain as Brand & Partnership Director of YOT will also assist Hipwee's management, acting as Chief Brand Officer who focuses on brand development and collaboration.

Hipwee CEO Nendra Rengganis said that the collaboration between the two companies is expected to provide flexibility to create content that not only chases clicks, but also has an impact and helps solve various problems of young Indonesians.

"We can't wait to collaborate and create many new breakthroughs that hopefully, can accompany the steps of young Indonesians to find the best version of themselves," he said.

As is known, as a holding, YOT houses several businesses, including GDILab (digital analytics company), TopCareer (career portal), maingame.com (the platform game local), and Bizshare (service equity crowdfunding).

Hipwee itself was founded in 2014, focusing as a media targeting readers in the age range of 18 to 24 years. The system is community-based, currently they claim to have 9 thousand contributors spread across various cities in Indonesia.

Kerjora and YOT itself actually have a relationship (indirectly). Billy Boen appointed director of the Orbit Fund, j in the form of venture capital between Kejora and SBI Holdings. Focusing on early-stage startups, they are committed to disbursing US$30 million or the equivalent of 426 billion Rupiah.