[서울신문] Native startup’Jackpot’… Sold for 2 trillion won in the US

HyperConnect made by video app’Azar’
Acquired by the largest dating app’Tinder’ operator
The second largest after Bae Min sold for 4 trillion won

‘HyperConnect’, a domestic startup that created’Azar’, a more famous video messenger app in the Middle East and abroad, was acquired by the US Match Group, which operates the world’s largest dating app’Tinder’, for about 2 trillion won.

HyperConnect announced on the 10th that the Match Group has agreed to acquire 100% of its shares for $1.75 billion (about 1.93 trillion won). This contract is the second largest merger and acquisition among domestic startups after German Delivery Hero acquired the People of Delivery (elegant brothers) for $4 billion (about 4.75 trillion won) in 2019.

HyperConnect, which broke the’Jackpot’, is a video and artificial intelligence (AI)-based technology company founded by CEO Ahn Sang-il in 2014. It provides video messenger Azar and others. Hazard is an app that lets you connect video calls based on algorithms with unknown people around the world. At the beginning of its launch, it entered the global market by hitting the Middle East. It is in service in 230 countries and has exceeded 540 million cumulative downloads. The company’s 2019 sales amounted to 168.9 billion won, with 95% of its overseas sales.

Match Group is a global company that services 40 social apps such as Tinder, and is a competitor of HyperConnect. Currently, the market cap is about 47 trillion won due to the large market share in North America, Europe, and Japan. The acquisition is expected to further expand its position in the social app market. This is the background behind betting a huge amount of 2 trillion won.

Match Group CEO Char Dubay said, “We will create a variety of synergies such as applying HyperConnect’s technology to match group services, and will actively support investment in HyperConnect’s innovative technology.” HyperConnect maintains an independent management system after the acquisition.

Reporter Ahn Seok [email protected]