A substantial stake purchase valued at US$13 million by a director at Tan Hiep Phat in Yeah1 has resulted in a comprehensive partnership between both parties in key projects in 2020.
Both companies have agreed to focus on developing apps for the technological and digital ecosystem of Yeah1. Yeah1 is also seeking a partner like Tan Hiep Phat which has strong financial capability and management expertise to accelerate its media commerce strategy.
On the other hand, Yeah1 will help Tan Hiep Phat, a leading soft drink manufacturer of green/herbal tea and energy drinks, to approach young consumers and deploy marketing programs with the long term target of reducing marketing costs, raising revenue and improving consumer benefits.
Yeah1 recently has also undergone restructuring, cutting ineffective TV channels such as Yeah1 Family and iMovie and developing new technological products.
Tran Uyen Phuong, Deputy General Director of Tan Hiep Phat now owns 21.6% of Yeah1 making him the 2nd largest shareholder in the company.
Earlier in March 2019, YouTube claimed that some channels on Yeah1 multi-channel network SpringMe had violated its policies. This led to the global video platform stopping work with all Yeah1 subsidiaries running YouTube AdSense including Yeah1 Pte., Ltd, and ScaleLab LLC. This cancellation has affected Yeah1 seriously resulting in heavy losses for the firm.
Tan Hiep Phat forms close partnership with media group Yeah1
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