After slightly more than a year in the business, the founders of Nuffnang today listed their company on the Singapore Stock Exchange, and the two co founders became instant millionaire overnight!
Nuffnang, the most promising dot com in Asia
Nuffnang is now traded in SGX with the ticket NUF. From what my sources told me, there were 3 million shares with the initial price of S$1.00 offered in this IPO. As of current, NUF ticket is the biggest earner in the Singaporean market, shooting to $3.50 at the time this article is written. If you are not mathematically challenged, the company is now worth well more than S$10 million!
Timothy and Ming of Nuffnang
Investors are greatly excited about Nuffnang, being the largest and most influential blog advertising company in the region, the company has a very bright future. Timothy and Ming explained that the company offered IPO to seek more capital for the rapid expansion of their business.
“We need quite a few more programmers, and we seriously need to hire someone to help in the payment processing area” quoted Timothy.
Ming also explained the need to have decent offices for Nuffnang so that they don’t feel shy meeting clients. The company now has make shift offices in Penang, KL, and Singapore.
On what they’re going to do with their new found wealth, Tim said he’s going to propose toWenQi, while Ming explained that he will shower his wealth on the winner of Malaysian Dream Girl. Good luck folks!
In an unrelated news, the founder of Nuffnang’s competitor was seen secretly purchasing 5 blocks of NUF shares.