Xurpas buys into US startup Quick.ly

Consumer technology firm Xurpas Inc. on Monday revealed buying to American startup Quick.ly, a search engine for mobile devices.

 

Xurpas, whose shares are traded on the Philippine Stock Exchange, has bought 666,666 shares of Series A Preferred Stock of Quick.ly at $1.50 per share for a total investment of $999,999.00. 

 

"Immediately after the closing, Xurpas now holds a 4.5 percent ownership of Quick.ly on a fully-diluted basis," Xurpas noted in a disclosure to the PSE.

 

Founded this year, Quick.ly is an operating company of Idealab – the Pasadena, California-based creator and operator of technology businesses.

 

“Expansion has always been one of our company’s priorities. And we will continue to do this through the acquisition of new distribution channels and world-class products. 

 

"It is the main reason why we decided to raise money through last year’s IPO. We are both proud and humbled to be an investor in Quick.ly,” said Nix Nolledo, Xurpas CEO and president.

 

Within six months of its initial public offering last December, Xurpas has bought into a number of companies that included Singapore-based Altitude Games, local HR-tech firm Storm Flex Systems, PT Sembilan Digital Investama – owner of Indonesian mobile content company Ninelives – and Singapore-based multiplayer games platform MatchMe.

 

Quick.ly is the fifth investment of Xurpas and the first outside Asia. – VS, GMA News