News website Rice Media acquired by social media agency

SINGAPORE – Online media outlet Rice Media has been bought over by a local social media content agency.

In a March 29 statement on its website, the publication announced that it had been acquired by Hustle Studios, a subsidiary of SkillsFuture-accredited training provider Hustle Singapore.

The statement said Hustle Singapore has been a longstanding training partner of Rice, and the acquisition “deepens that relationship, bringing together Rice’s editorial credibility and community reach with Hustle’s expertise in learning, facilitation and training programmes in the creative industry”.

The news website will continue publishing at the same web address, and further announcements will be made in the coming months, it added.

Rice Media’s chief executive Mark Tan told The Straits Times on March 29 that he had originally wanted to shutter the site but changed his mind as he felt Rice Media still needed to continue producing stories for its audience.

“Also, the transaction and the money coming in would allow me to settle most of the liabilities and also pay people a severance package, so I think it’s really the most responsible thing for me to do,” he said.

He declined to reveal how much the company was sold for.

Founded in 2016 by Mr Tan, a former lawyer, Rice Media billed itself as an independent publication that offered an unfiltered take on Singapore and Asia. It became known for its long-form stories and commentaries on Singapore’s news and culture.

According to past media reports, the company got off the ground in 2017 after receiving a $300,000 infusion from an angel investor.

By 2019, the website was getting about 500,000 monthly unique visitors.

A former Rice Media employee told ST that five staff were notified of retrenchments in November and early December 2025, which would be effective from January 2026.

“It did feel a bit sudden, (because) we actually had quite a number of branded video projects lined up,” said the employee, who had worked at the outlet for over three years.

The employee said he continued working freelance for Rice Media to wrap up these projects after the layoffs, and is now waiting to start another role in the media industry.

Mr Tan said the five retrenched staff included writers and a video editor. They were given a month’s pay as part of their retrenchment package, and the Creative Media and Publishing Union was informed about the layoffs, he added.

He said he could not give details on the company’s current headcount or how many staff will continue to be employed under the new ownership.

Mr Tan said in a 2020 interview that Rice had 22 staff, including five based in Thailand.

In the same interview, Mr Tan announced that Rice Media was expanding into Thailand as it has “a mature media market and a population exposed to a wide spectrum of content”.

In 2022, the publication said it was embarking on a regional expansion to “bring our brand of irreverent, impact journalism to key markets in South-east Asia”. As part of the move, it also appointed a new managing director and editor-in-chief.

The publication made its name through a number of exposes. In 2018, it covered an event organised by Cornerstone Community Church (CSCC) where American Christian preacher Lou Engle made anti-Islamic remarks in his sermon.

The article triggered an investigation by the Ministry of Home Affairs into Mr Engle’s statements, and a police report by the church for what it called a “scurrilous attack” by the media outfit.

CSCC senior pastor Yang Tuck Yoong eventually apologised publicly to Muslim leaders here and expressed regret for the “considerable distress and misunderstanding” caused by Mr Engle’s remarks. The church also tightened its procedures for inviting foreign speakers.

In 2021, Rice Media published an expose on independent bookstore BooksActually owner Kenny Leck’s alleged relationships with young female employees, and a separate piece on Singaporeans who lost money in a business venture owned by beleaguered businessman Raymond Ng.

The platform has also covered current affairs, such as the 2025 General Election, and published stories on mental health and niche subcultures in Singapore. Besides its editorial work, it puts out branded content with corporate firms.

Mr Tan told ST he started Rice Media to create a serious publication that credibly puts out alternative views. “In many ways, I think we’ve already done that, so I just felt that I didn’t have more to really achieve in this space.”

He continues to head Blockhead.co, a news site on cryptocurrencies and blockchain technology. He also leads Blockhead Research Network, a market intelligence firm for institutional investors.

On leaving Rice Media, he said: “It was a fulfilling chapter in my life. I don’t think I’ve left anything on the table in that regard.

“At a certain point in time, maybe what you want personally outgrows what you do professionally, and that’s what’s happening now.”