Global Yellow Pages, the publisher of telephone directories and provider of classified directory advertising, says it has entered into investment agreements with Singapore’s leading location-based service provider, ShowNearby and COMPANEDIA, a one-stop web agency for local SMEs.
Under the agreements, Global Yellow Pages will invest a sum of $3.5 million for a 53.13% interest in ShowNearby and an 80% interest in Companedia. ShowNearby and Companedia will become subsidiaries of the group on completion of the transactions.
Stanley Tan, Executive Chairman and Acting Chief Executive Officer of the group, says: “I am really excited to welcome ShowNearby and Companedia to join our growing stable of businesses. These two new additions will complement our vision of growing the e-commerce business by building our digital eco-system and enabling us to expand our product offerings to enhance value for advertisers, businesses and consumers.”
ShowNearby provides intuitive location-based services through its main product offerings, ShowNearby on the Web, ShowNearby on Mobile and ShowNearby Analytics, for consumers and businesses.
ShowNearby on the Web allows consumers to locate nearby amenities, identify points-of-interest and accessibility information while ShowNearby on Mobile allows consumers to do the same on their favourite smart phone devices, which include Apple’s iPhone and Google’s Android.
ShowNearby is currently Singapore’s top three applications on Google’s Android market, Android’s on-device app store which allows developers and users to create and buy paid applications.
Similarly, ShowNearby Analytics provides a platform for business owners to evaluate both complementary and competing businesses in the vicinity while allowing home buyers to find their ideal home locations.
Global Yellow Pages’s stake in Companedia is also in line with its strategy as a predominant partner for Small and Medium-Sized Enterprises (SMEs), which form its core clientele. With a vision to be a one-stop IT solution provider, Companedia will provide SMEs with a full suite of customised IT services, including graphic design, web design, development and hosting, internet marketing and maintenance.