Murdoch's gets a piece of Bezurk
Singapore - News Digital Media now has a minority stake in Singapore-based Bezurk's travel search engine business.
News Digital Media formed in 2006 is the the digital media arm of Australia based News Limited a subsidiary of the world's largest media conglomerate News Corporation.
"To have the backing of such a major player is recognition of our success to date and will accelerate our product development and international expansion plans. Our position in APAC will be further strengthened through the vast promotion, business development and integration opportunities available to us through News' investment,"Martin Symes, CEO of Bezurk said.
News Digital Media's CEO, Richard Freudenstein added, "News Digital Media will exclusively represent Bezurk for online display advertising within Australia and the businesses will work closely on commercial development. Bezurk will also be promoted across the News Digital Media network and News Limited newspapers. This strategic investment is significant for us as we continue to identify new commercial opportunities locally and overseas. The investment further enhances our online offering to consumers and advertisers while also opening up new sources of revenue. Online travel is a key vertical in News Digital Media's growth plans and is a natural fit for our business. "
Bezurk allows travellers based in Australia, New Zealand, Singapore, Malaysia and Thailand to search real-time price and availability information. Its revenue model is based on a Pay Per Click model and other performance based commercial agreements. The APAC travel region is estimated to be worth more than US$25 billion (S$35.76 billion) and growing.
Singapore-based outsourcing service provider OWW Capital Partners also acquired a stake in Bezurk.