Eight years after being set up in Singapore, TradeGecko has been acquired by Silicon Valley giant Intuit, both companies announced this morning.
TradeGecko makes inventory management software for small businesses, with customers in over 100 countries. Intuit, valued at over $80 billion, is perhaps best known for making TurboTax and personal finance app Mint. TradeGecko will be merged with Intuit’s small business accounting software, QuickBooks.
The value of the deal isn’t disclosed. It marks a relatively rare acquisition in Southeast Asia’s tech industry.
Bradley Priest, TradeGecko co-founder and CTO, took to Twitter this morning to thank “all the amazing people we’ve worked with on this journey,” adding that he’s “so incredibly excited for this next stage.”
Both he and brother Cameron, who serves as CEO, will join Intuit and “will play integral roles in the product and team integration,” said the California-based firm in a statement today.
TradeGecko’s timeline:
- February 2012: Founded in Singapore by the Priest brothers, who hail from New Zealand
- January 2013: Software service launches
- April 2015: Raises $6.5 million series A
- 2015: Opens first overseas office in Manila, the Philippines
- November 2017: Opens an office in Toronto, Canada
- July 2018: Raises $10 million series B
- January 2020: Even before the Covid chaos starts, TradeGecko lays off a quarter of its staff, affecting 35 of its 125 staffers
- August 2020: After the layoffs, startup announces its acquisition and says it has “80+” employees