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Setipe, the bgest online matchmaking service in Indonesia, has been acquired by Singapore-based dating services provider Lunch Actually , a joint statement from the two companies said on Monday (08/05).
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Razi Thalib, the founder and chief executive of Setipe — which will lead Lunch Actually's operations in Indonesia — will join the Singapore company's team of 110 staff. But monetizing the online dating market in Indonesia requires a strong offline presence since credit card use remains low, and fewer than half of Indonesian citizens have access to the internet," Razi said.
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The statement did not mention the value of the acquisition by the Singapore .
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Rudy Ramawy, managing partner of Venturra Capital, one of the early investors in Setipe, said joining the operations of Lunch Actually and Setipe is the rht move.
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