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Economy in brief: Yogrt app gets $3m investment
Location-based social networking mobile application Yogrt announced on Wednesday that it had raised funding worth US$3 million from several foreign investors
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ocation-based social networking mobile application Yogrt announced on Wednesday that it had raised funding worth US$3 million from several foreign investors.
According to a statement by the firm, the investment came from the Centurion Private Equity Ltd., a private equity funding company, and Linear Venture, L.P., a leading venture company in Asia and the US, among others.
Both companies were known to be behind a number of successful technology, media and telecommunication companies in Asia and the US.
Yogrt CEO and co-founder Jason Lim said that his firm actively recruited fresh talent to accelerate Yogrt's coverage in Asia.
'Our current focus is Indonesia, however we are seeing strong followings and traction coming from other Southeast Asian countries and Hong Kong,' he said in a statement.
Yogrt app, which connects people through ice-breaking social games and quizzes, was founded by Jason Lim, Roby Muhamad, Kevin Xu and Albern Xu and was first introduced to Indonesia's market last October.
The app is available in the Google Play Store and App Store and currently has more than 500,000 registered users with ages ranging from 17 to 24 years old.
