Social entertainment platform migme Limited (ASX:MIG) has entered into the e-commerce market with an acquisition aimed at broadening its service profile.
Singapore based migme has purchased an online entertainment shopping site called sold.sg from Singapore’s Soldgers Pte Ltd.
Sold.sg includes two main assets which enable users to place bids for a range of goods through the auction site and buy goods through the e-commerce site.
migme has made the purchase with a combination of cash and shares and has plans for a re-launched next month with view to expanding into key markets this year.
migme reported a net loss of $1.29 million in the 2014 financial year.
