TOKYO, JAPAN – October 2, 2024 –FORIT DIGITAL SDN. BHD. (Headquarters: Malaysia; CEO: Takeharu Yoshizawa) , a wholly owned subsidiary of For it Inc. (Headquarters: Shibuya-ku, Tokyo; President and CEO: Takeharu Yoshizawa; hereinafter “Forit”), a global leader of performance marketing services, today announced the acquisition of a majority stake in YOYO Holdings Pte. Ltd. (Headquarters: Singapore; Founder and CEO: Yosuke Fukada; hereinafter “YOYO Holdings”), operator of Southeast Asia’s leading influencer platform “PopStar,” on September 3, 2024.

From left: Natasha, CBO of YOYO / Fujimura, Executive Officer in charge of Global Marketing Division of Forit / Fukada, CEO of YOYO / Yoshizawa, CEO of Forit

1. Background of the Acquisition
YOYO Holdings operates “PopStar,” a leading influencer marketing platform primarily in Indonesia and the Philippines. Forit has been expanding its global performance marketing platform business “Webridge” since 2017, leveraging its two decades of experience and know-how operating the performance marketing platform “afb” in Japan. In recent years, there has been a significant increase in demand for global marketing across three main areas: overseas expansion of Japanese companies, entry of foreign companies into Japan, and overseas expansion of foreign companies. Building on our success in Japan, Forit currently is aggressively expanding its operations in China, Taiwan, Singapore, Malaysia, Thailand, and Vietnam.

Indonesia and the Philippines, where YOYO Holdings have its primary business bases, are rapidly growing markets. With Indonesia’s population expected to exceed 300 million by 2030, and the Philippines maintaining a high economic growth rate, these two markets provide the perfect opportunities for rapid growth and business expansions.

This acquisition brings YOYO Holdings’ strong business foundation in Indonesia and the Philippines, which includes global brands, a strong alliance with social media platform TikTok (certified as a TikTok Creative Marketing Partner in 2023), and the influencer platform “PopStar” with over 300,000 influencers, under Forit’s umbrella . This will further accelerate the global expansion of “Webridge” and enable Forit to provide services to advertisers and media companies worldwide.

Furthermore, YOYO Holdings will actively consider and explore the opportunity for a “Swing-by IPO” in Southeast Asian markets in the medium to long term to further expand its business.

2. About Influencer Marketing Market
The global influencer marketing market has grown rapidly from approximately US$1.7 billion (approximately JPY 264.6 billion) in 2016 to approximately US$16.4 billion (approximately JPY 2.55 trillion) in 2022, and is projected to reach approximately US$24 billion (approximately JPY 3.74 trillion) in 2024 (according to Influencer Marketing Hub).

In Indonesia, YOYO Holdings’primary business base, the number of TikTok users reached 127.5 million as of April 2024, ranking first in the world. Indonesia is also projected to have the 5th largest GDP in the world by 2050, making it a market with enormous growth potential.

3. Future Outlook
Through the acquisition of YOYO Holdings, Forit will achieve early entry into a growing market and significantly strengthen its positioning in the performance marketing and influencer marketing markets in the ASEAN region. Forit aims to connect people and create new value, acting as a bridge between people, products, and information with diverse values to enrich people around the world. With the goal of making “Webridge” the No. 1 global performance marketing platform, Forit will continue to expand its presence in the global market and further enhance its corporate value.
with PT. YOYO Technology Indonesia members

■ YOYO Holdings Pte Ltd. Overview
Company Name: YOYO Holdings Pte Ltd
Location: #14-06, 10 Anson Rd, International Plaza, Singapore
Business Description: Development and operation of the influencer platform “PopStar,” Digital marketing business
Locations: Singapore, Indonesia, Philippines
Established: October 2012
Employees: 65
URL: https://www.yoyo-holdings.com
PopStar: http://pop-star.me

■ Forit Inc. Overview
Company Name: For it Inc.
Location: E・Space Tower 9F, 3-6 Maruyama-cho, Shibuya-ku, Tokyo, Japan
Established: April 2010
Employees: 185 (as of September 2024, including part-time workers and overseas subsidiaries)
Capital: JPY 10 million (as of April 30, 2024)
URL: https://www.for-it.co.jp