CT Corp is Reportedly to Finalize the Acquisition Over Female Daily Network
Founders will stay in the company
Kristin Siagian - 8 April 2019
The first time it was covered by DealStreetAsia, DailySocial aware that CT Corp is to finalize the acquisition process of the women focused media, Female Daily Network. The service will work independently while the founders stay and hold the minor shares. The Co-Founder, Affi Assegaf had previously resigned from the management due to personal issue.
According to a source, Female Daily Network has been looking for strategic partners to support the company’s plans since last year, particularly to enter the related e-commerce industry.
CT Corp has Trans Media (in charge of Detikcom, CNN Indonesia, and CNBC Indonesia) and Trans Fashion (which owns such brands as Aigner, Tods, Jimmy Choo, and Furla) suitable with the vision.
The company has received a million dollar funding in 2014 from Ideosource, SMDV, and Convergence Ventures. In its journey, Female Daily Network has acquired mobile tech consultant, J-Technologies to support its product solutions.
In the previous interview with DailySocial, Hanifa Ambadar as the CEO said, “We are now having around two million users. In line with our commitment to focus on 99% beauty related information since 2014, the number is predicted to increase along the way.”
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Original article is in Indonesian, translated by Kristin Siagian