The domestic video dating app’Azar’ is sold to the world’s largest dating app’Tinder’. The acquisition amount reached 2 trillion won.
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On the 10th, Azar developer HyperConnect announced that Match Group, a Tinder operator, will acquire 100% of HyperConnect for $1.75 billion (about KRW 1.93 trillion). The transaction is expected to close within the second quarter of this year.
Azar, developed by HyperConnect, is a video-based dating app. It is more popular overseas than in Korea, and the share of global users reaches 99%. The Match Group, which acquired HyperConnect, is a company that offers more than 40 social and dating apps, including Tinder, and is a listed company on NASDAQ. The current market capitalization is 47 trillion won.
An official from HyperConnect said, “We will gain momentum in the global market launch of enterprise and next-generation social services based on artificial intelligence (AI), which we have been preparing for this year by accelerating our targeting global big markets such as North America and Japan. It is expected that the successful settlement of the released video-based social discovery and dating app’Slide’ will be accelerated.”
“HyperConnect’s live video and audio technology provides a powerful means for users across the globe to connect with new people and new cultures,” said Shar Dubey, CEO of Match Group. “We plan to accelerate the explosive growth of HyperConnect through global service know-how and active investment in the big market and apply HyperConnect’s technology to match group services.”
Ahn Sang-il, CEO of HyperConnect, said, “The Match Group aims to’connect’ users around the world through a trusted brand based on technology. Even small startups can create business opportunities in the global market if they have innovative technology. We are pleased to have HyperConnect’s proof that we can do it, and to welcome a match group that values the value of technology as a partner.”
/ Reporter Yoon Min-hyuk [email protected]
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