I heard nothing from Billmonk for months until this odd email, on March 30:
It's been a while. Our apologies for the long silence.
We know many of you have complained about the downtime of BillMonk,
especially over the last 6 months. Well, we heard your call
and are acting on it now.
Uptime is coming. We have some exciting news for you lined up next week!
Best of luck to the billmonk team. We've moved on.They have launched for approx slighty more than half a year. Their Google Play shows around 1-5k __downloads__. Let's peg the iPhone to be 2x of Google Play. So lets make that a cap of 15k in the best-case scenario. But these are downloads, assuming 50% retention rate (which is really superb, they have 7.5k active users.
50 * 7.5k puts that to be about 375000 users. How many of that are actives? We don't know. So yes, an acqusition for a total of 375000 on a best case scenario?
To put it bluntly, this is a classic case of a masquerade. This is no news, this is just a marketing attempt. The thing is, the Singaporean startup scene DOES THIS ALL THE TIME. In less than 6 months, this is the 2nd time I see an acquisition as marketing piece. And then there are vanity metric bragging, etc.
Oh well. Can we stop celebrating marketing campaigns already?
I'm interested to see what they do with the new users.