moves HQ to Jakarta, names new CEO


Posted at May 10 2012 02:45 PM | Updated as of May 11 2012 12:58 AM

MANILA, Philippines - Online shopping mall on Thursday said it will relocate its corporate headquarters to Jakarta, Indonesia from Boca Raton, Florida.

Multiply also named Stefan Magdalinski, who has 15 years experience in the e-commerce industry, as its new CEO.

Originally from the U.K., Magdalinski has previously managed e-commerce businesses in sub-Saharan African for MIH. He was also the co-founder and Chief Technology Officer for, a global business retailing innovative digital print products online.

"I'm very excited to be working with the existing Multiply teams in Indonesia and the Philippines and become part of our new operations here. Having worked in Nigeria and Kenya most recently, it’s wonderful to be operating in such developed markets as Indonesia and the Philippines," Magdalinski said, in a statement.

With the company now based in Jakarta, Magdalinski said his immediate objective is to assemble a world-class local technical development team. is one of the world's leading online shopping malls with shoppers from the Philippines, Indonesia, Malaysia, Singapore Thailand and Vietnam.

Jack Madrid, country manager for the Philippines, said Magdalinski's expertise in e-commerce in emerging markets would help boost Multiply's e-commerce business.

"More and more companies are realizing the potential of the region in terms of consumption and its very capable workforce. Multiply’s headquarters move is indeed a strong message of commitment to the growth of the business in the Philippines, our biggest and most important community and market," Madrid said.

Multiply is now considered as the Philippines' largest social online shopping destination, with 5.5 million users and 120,000 sellers.